Vietnam will rank 2nd in Asia in terms of pork consumption: OECD
Vietnam will rank 2nd in Asia in terms of pork consumption: OECD
Vietnam is currently one of the world’s leading pork consumers and likely to rise to rank second in Asia this year, according to the Organization for Economic Cooperation and Development (OECD).
The Southeast Asian country ranks third in the continent after China and South Korea in terms of pork consumption at present, according to the OECD’s statistics.
The organization forecast that Vietnam will accelerate to the second place in 2022 with a consumption volume of about 3.4 million metric tons.
The country can reach an average growth rate of 3.1 percent per year during the 2022-30 period.
The reopening of tourism, schools, and factories after the COVID-19 pandemic was put under control in Vietnam is the main drive for the increase in meat demand, according to the Ministry of Agriculture and Rural Development.
As the poultry consumption trend continues to rise in many countries around the world, domestic poultry prices are witnessing a slight increase.
The agriculture ministry reported that average live hog prices currently fluctuate between VND53,000 and VND58,000 per kilogram, up by VND1,000-3,000 per kilogram compared to the end of March. (US$1 = VND22,943)
It predicts that pork production will reach more than one million metric ton, up 4.7 percent year on year, in the second quarter.
Thanks to the abundant domestic supply, the ministry expects that imports of meat and meat products will not increase dramatically in the near future.
