Vietnam pork prices hit five-year high towards nearly $9 a kilo

Pork prices in Vietnam surged to almost $9 per kilogram this week as the swine fever epidemic began to take tolls, exacerbating a severe meat shortage in the country.

It is expected that price continue to rise following high demand in the month of upcoming Lunar New Year holiday. There would be no pork crisis, VietnamNet cited information from the Department of Animal Health under Ministry of Agriculture and Rural Development.

Between February and November this year, African swine fever outbreak killed over 5.9 million hogs. Pork prices in supermarkets and traditional markets increased sharply to $7.3 per kilogram. Some types of meat are even sold at $9 per kilogram, ministry said.

According to General Statistics Office, the total pig herd of the country in October fell by 20% against year ago, making live hog price increase sharply to almost $3.5 per kilogram. The price was $1.3 per kilogram eight months ago, when people refused to buy pork.

Despite severe meat shortage, export revenue of pork-related products increased 57% year-on-year to over $50 million during the first ten months of 2019, according to report from Ministry of Agriculture and Rural Development. 

Related stories:

► Vietnam considers more pork imports as prices surge: VNExpress

► African swine fever outbreak has cut Vietnam hog herd by 20%: Reuters

► Vietnam ministry warns oversupply of chicken

Source: VietnamNet