Vietnam raises pork imports as prices appreciate locally

30.07.2018

The price of live hogs in the Vietnam has risen sharply due to limited supply as farmers have just resumed their business after the crisis. At the same time, pork imports have also increased. According to the Ministry of Industry and Trade (MOIT), in June, the country imported 678 tonnes of pork worth USD 1.03 million, up 50.4% in volume and up 50.7% in value compared to May 2018.

The average import price reached USD 1524 per tonne, up 0.1% compared to the previous month. The US accounted for 30% of Vietnam’s total meat and meat imports. According to MOIT, the price of live hog is at USD 2.37 per kg, the highest in recent years. Nguyen Tri Cong, Chairman of Dong Nai Livestock Production Association told Asian Agribiz that the high rate of pork imports is not a concern if it stabilises market price. On the other hand, he added, it will be a problem if pork imports from the US through Vietnam enters China.


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