Pig price doubles within two weeks

The pig price has risen up to VND45,000 per kilo, after months of record low - PHOTO: NGOC HUNG

HCMC – The pig price on July 17 leapt to VND45,000 a kilo, having stayed low in the range of VND20,000-25,000 a kilo for several months on end.

These days, the pig price has always been on pig farmers’ lips in Dong Nai Province every morning. However, there is now no more complaints about the low price, but on the dramatic rise per day instead, as the current price has substantially been higher than the production cost, according to the Dong Nai Livestock Association.

On Sunday, the price was about VND45,000 per kilo, while it was only VND40,000-42,000 the previous day. In the last week of June, the price was even as low as VND24,000. So, the price has doubled after only two weeks.

The Dong Nai Livestock Association said it is hard to speculate the rising trend for the time to come. There is explanation that traders are now collecting pigs for export to China and this is the cause of the rise.

In fact, pig prices in Vietnam have for long been largely influenced by the demand in China over the years.

For instant, the price plummeted dramatically due to the sudden import stop from China some eight months ago. As China begins to import Vietnam’s pork again, the price is now on the rise.

The cause of this rise, besides China, is also attributed to the export of live pigs and pork to Cambodia as well as many schemes to support pig farmers. Still, China is the major factor of influence, and as long as this market continues the importation, the price will rise.