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Pig price hike headache for management bodies

The price hike of pork is causing a headache for management bodies as it poses a risk of increasing imported pork in the domestic market.

 

Speaking at a conference on solutions to stabilise the market and develop the pig farming industry in Ha Noi on Tuesday, Minister of Agriculture and Rural Development (MARD) Nguyen Xuan Cuong said the pig price should remain at VND35,000 per kilo rather than VND51,000-52,000 at present.

“In order to stabilise the market, pig farming businesses and pork agents should lower their selling prices. It is needed to reduce the price of rice bran [the main feed for pigs],” said Cuong.

“Enterprises need to get the right amount of profit because if it’s too high they may lose market share, so the loss will be much larger. In addition, localities should focus on promoting production, environmental protection and disease prevention for sustainable development,” he added.

At the meeting, which gathered representatives of the General Statistics Office, the Ministry of Industry and Trade and livestock farming businesses, participants agreed with the minister’s opinion on the need to stabilise prices as well as supply and demand in the market. The market stabilisation will be on the basis of mutual benefit, helping both pig breeders and businesses.

Some commented that, at the current price of VND51,000-52,000 per kilo of pig was too high compared to production costs.

According to Nguyen Xuan Duong, Acting Director of the ministry’s Department of Livestock Production, the breeding cost of pig is currently VND35,000-36,000 per kilo and the current selling price is too high.

Duong said the goal and mission for the pig farming industry was to increase productivity and lower prices. The domestic pork price should be the lowest in the region. Besides, it would need to diversify products and develop the consumption market.

Deputy General Director of CP Joint Stock Company Kieu Minh Luc said the price should be kept below VND50,000 per kilo. On the side of business, he said his company was willing to co-operate with relevant bodies to maintain price stability in the market.

“It is also our expectation because if the market is stable, the company’s operation will be sustainable in the long run,” said Luc.

“The current supply is still very tense. If the ministry can connect large enterprises to stabilise prices, my company will immediately agree,” he added.

Head of Trade and Project Development Division of the Japfa Comfeed Vietnam Company Do Hoang Long said the immediate stabilisation solution was to increase the supply of pork to reduce the price pressure. “In the long run, it is necessary to manage the herds by registration to control the market.”

At the meeting, many businesses also recommended setting up a pig production association, which is expected to help stablise the market in the future.

A representative of the General Statistics Office also said the price of live pigs was VND50,000 per kilo, while the price of pork is VND100,000 per kilo, the difference was too large. It was necessary to cut the cost of production, especially feed, and set up associated production chains and traceability.

The latest report by the MARD’s Department of Agricultural Product Processing and Market Development showed that the pork price sharply increased since last month. It was forecast to increase slightly in the last months of the year due to increasing demand.

Minister Cuong said the price is decided by the market, but the problem is how to harmonise the benefits among participant in the production chain including consumers, producers, enterprises and especially to keep the market sustainable development in the long-term.

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Pig price hike headache for management bodies

The price hike of pork is causing a headache for management bodies as it poses a risk of increasing imported pork in the domestic market.

 

Speaking at a conference on solutions to stabilise the market and develop the pig farming industry in Ha Noi on Tuesday, Minister of Agriculture and Rural Development (MARD) Nguyen Xuan Cuong said the pig price should remain at VND35,000 per kilo rather than VND51,000-52,000 at present.

“In order to stabilise the market, pig farming businesses and pork agents should lower their selling prices. It is needed to reduce the price of rice bran [the main feed for pigs],” said Cuong.

“Enterprises need to get the right amount of profit because if it’s too high they may lose market share, so the loss will be much larger. In addition, localities should focus on promoting production, environmental protection and disease prevention for sustainable development,” he added.

At the meeting, which gathered representatives of the General Statistics Office, the Ministry of Industry and Trade and livestock farming businesses, participants agreed with the minister’s opinion on the need to stabilise prices as well as supply and demand in the market. The market stabilisation will be on the basis of mutual benefit, helping both pig breeders and businesses.

Some commented that, at the current price of VND51,000-52,000 per kilo of pig was too high compared to production costs.

According to Nguyen Xuan Duong, Acting Director of the ministry’s Department of Livestock Production, the breeding cost of pig is currently VND35,000-36,000 per kilo and the current selling price is too high.

Duong said the goal and mission for the pig farming industry was to increase productivity and lower prices. The domestic pork price should be the lowest in the region. Besides, it would need to diversify products and develop the consumption market.

Deputy General Director of CP Joint Stock Company Kieu Minh Luc said the price should be kept below VND50,000 per kilo. On the side of business, he said his company was willing to co-operate with relevant bodies to maintain price stability in the market.

“It is also our expectation because if the market is stable, the company’s operation will be sustainable in the long run,” said Luc.

“The current supply is still very tense. If the ministry can connect large enterprises to stabilise prices, my company will immediately agree,” he added.

Head of Trade and Project Development Division of the Japfa Comfeed Vietnam Company Do Hoang Long said the immediate stabilisation solution was to increase the supply of pork to reduce the price pressure. “In the long run, it is necessary to manage the herds by registration to control the market.”

At the meeting, many businesses also recommended setting up a pig production association, which is expected to help stablise the market in the future.

A representative of the General Statistics Office also said the price of live pigs was VND50,000 per kilo, while the price of pork is VND100,000 per kilo, the difference was too large. It was necessary to cut the cost of production, especially feed, and set up associated production chains and traceability.

The latest report by the MARD’s Department of Agricultural Product Processing and Market Development showed that the pork price sharply increased since last month. It was forecast to increase slightly in the last months of the year due to increasing demand.

Minister Cuong said the price is decided by the market, but the problem is how to harmonise the benefits among participant in the production chain including consumers, producers, enterprises and especially to keep the market sustainable development in the long-term.

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