Vietnam increases pork imports to cool off rising domestic prices

The increase in imports was to make up for the shortage in pork supply caused by African swine fever which pushed up domestic prices in the first months of 2020.

The pork was mainly imported from Brazil, Russia, Poland, the US and Canada. Brazil was the largest exporter of pork to Vietnam last year, accounting for 24.5% of the import volume.

The average pork import price was US$2.2 per kilo.

According to the Ministry of Agriculture and Rural Development, Vietnam approved 25 countries to export livestock and poultry meat to Vietnam, including more than 800 enterprises from 19 countries allowed to export pork to Vietnam.

Vietnam imported more than 43,300 pigs for breeding, mainly from Thailand, Canada, the US, Denmark and Taiwan (China).

Live hog prices tended to increase in many provinces across the country from early January due to increases in consumption demand ahead of Tet (Lunar New Year) to around VND80,000 – 84,000 (US$4) per kilo, around VND5,000 higher than the end of December.

However, in recent days, pork prices decreased by around VND1,000-5,000 per kilo.

Nguyen Van Trong, Deputy Director of the ministry’s Department of Livestock Production, said pork prices dropped in recent days because processing companies reduced their purchases as they had enough goods for consumption during Tet.

The enhanced prevention against smuggling of pork to China together with the increase in supply also helped lower pork prices.

Now Vietnam had 27.3 million pigs, an increase of 21% over a year ago and equivalent to 88.7% of the time before the disease occurred.

The Ministry of Industry and Trade said that early preparations were made to ensure enough supply of pork for Tet with many enterprises launching price stabilisation programmes.