Pork Market in Vietnam: Prices Rise

Production Cost

The production cost of pork in Vietnam ranges from US$1.85 to US $2.06 per kilogram. This puts pressure on local producers, as rising pork prices cannot always offset production costs. Farmers are faced with the need to optimize their costs and improve efficiency to remain competitive in the market. Pork

Import and EXPORT

Interestingly, Vietnam’s pork import volume significantly exceeds its exports. In the first eight months of 2024 , the country imported 64,240 tons of pork worth US$144 million. This volume includes not only fresh, chilled, and frozen products, but also edible offal. At the same time, pork exports amounted to only 6,370 tons, down 7% year-on-year. Key export items include whole frozen dairypiglets and whole frozen pigs, but this does not compensate for the shortage in the domestic market.

Reasons for the increase in prices and imports

The increase in pork prices and imports can be attributed to several factors. First, the economic recovery from the covid-19 pandemic has led to an increase in demand for MEAT products. Second, production problems due to outbreaks of diseases among pigs, such as African swine fever , have also played a role. These factors have created a shortage in the domestic market, which in turn contributed to the increase in prices.

Prospects and Challenges

The situation in the pork market in Vietnam is a cause for serious concern for local producers and authorities. The need for imported pork may indicate structural problems in the agricultural sector that require attention. Going forward, to stabilize prices and increase production, it is necessary to invest in technology, improve conditions for farmers, and develop domestic infrastructure.