Imported pork cheaper than local products
Imported pork cheaper than local products
The average price of frozen pork imported into Vietnam is some VND26,000 per kilogram, significantly below the price of local pork, according to the Import-Export Department under the Ministry of Industry and Trade.
The department told Thanh Nien newspaper on January 3 that the volume of pork imported in October and November last year surged due to the strong demand in the months around the Lunar New Year.
In November 2019, the country imported over 15,000 tons of pork worth US$15.9 million, skyrocketing by 164% in volume and 113% in value year-on-year.
Between January and November last year, the import of pork amounted to over 111,000 tons valued at US$124 million, increasing by 108% in volume against the year-ago period.
Vietnam bought pork mainly from Poland, Germany, France, the United States and the Netherlands.
The price of imported pork in the 11-month period averaged US$1,117 per ton, or VND25,950-VND26,000 per kilogram. Imported pork, when sold, is subject to multiple tariffs, including import tax and value-added tax, along with other fees. As such, its selling price commonly ranged from VND33,000 to VND35,000 per kilogram.
However, since November 2019 the import price of pork has gone up due to the rising demand.
Some 1,640 foreign firms are allowed to ship pork and pork products into Vietnam. Meanwhile, Vietnam has seen 140 local enterprises importing pork from these firms and foreign countries.
The department said that it had proposed Vietnam trade offices in foreign countries and territories actively seek sources for pork and link them to local pork importers to diversify the supply.
The price of live pigs in the three main regions of Vietnam has plummeted by up to VND10,000 per kilogram, on average.
In the southeastern region, live pigs sold for VND82,000-VND84,000 per kilogram on January 3, down VND10,000 per kilogram against last week.
Can Tho City and An Giang Province in the Mekong Delta region saw live pig prices drop by VND4,000 at VND84,000 per kilogram, while Tien Giang and Tra Vinh provinces kept the price unchanged at VND90,000-VND92,000 per kilogram.
In central Vietnam, the highest price of pork was reported at VND88,000 per kilogram in Ha Tinh, Nghe An and Thanh Hoa provinces. Last week, live pigs in these provinces were priced at over VND92,000 per kilogram.
In the northern market, the price fell on January 3 by VND10,000 per kilogram against last week. Ha Nam, Nam Dinh and Phu Tho provinces reported the price of live pigs at VND82,000 per kilogram.
