Vietnamese pig price rises to record high

The pig price in Vietnam has risen to a record high due to the outbreaks of African swine fever. A market analysis by the American 'National Pork Board' also shows that the Chinese pork shortage may last longer than expected.

Pig and pork prices in Vietnam have soared to record highs in the past 2 weeks. In several regions, the price for pigs is now 60.000 to 63.000 Vietnamese dong. Converted, this concerns a price of €2,34 to €2,46 per kilo. "Those prices are expected to remain at this level, or even higher, for the time being," said Nguyen Tri Cong, chairman of Dong Nai Livestock Production Association. Agribiz† "This is why many Vietnamese have switched to chicken and seafood."

Longer recovery in China
Although it has been clear for some time that the we live If it will take China to recover from the African swine fever outbreaks, the National Pork Board in the United States is going one step further. In a market analysis, this organization expects that the country will struggle with a pork shortage until at least 2025. This analysis also shows that Chinese pork imports will peak in 2022.

In addition, China is currently struggling with higher consumer inflation. China's consumer price index rose 3,8% between September and October, bringing inflation to its highest level in 8 years. As pork prices in China are expected to continue rising, Chinese economists estimate that the 4% level could be reached in the coming months.

Government aid in the Philippines
The Philippines has also been hit by the animal disease. That's why Rodrigo Duterte, the president of the Philippines, has approved an emergency fund of about $4,4 million. The pig farmers in the country who have slaughtered pigs as a result of the virus can claim this fund. The Ministry of Agriculture also pays $100 for each pig to be put down because of African swine fever.

Read all about African swine fever here.

Kimberly Baker

Kimberly Bakker is an all-round editor at Boerenbusiness. She also has an eye for the social media channels of Boerenbusiness.

k.baker @boerenbusiness. Nl

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