Vietnam's pork imports up for 3rd straight month

This marks the third straight month that the country has reported an increase in pork imports.

The pork import price averaged over $2,680 per metric ton, inching up 25 percent versus July last year.

From January to July this year, the country bought 54,760 metric tons of pork worth $143 million from overseas, up 20.8 percent in value year on year.

The country exported some 6,000 metric tons of pork, bringing in $35 million between January and July, dipping 2.4 percent in volume but soaring over 30 percent in value compared to the year-ago figures.

According to the Agency of Foreign Trade, under the Ministry of Industry and Trade, live pig prices nationwide fell below VND60,000 ($2.48) per kilogram last month.

The northern, central, and Central Highlands regions saw live hog prices drop VND2,000-3,000 ($0.08-0.12) per kilogram month on month to VND57,000-59,000 ($2.36-2.45).

In the south, live hog prices also slumped VND1,000-2,000 ($0.04-0.08) per kilogram to VND56,000-58,000 ($2.32-2.40).

The Agency of Foreign Trade attributed the price plunge to the seventh lunar month, which lasts from August 16 to September 14 this year, during which many Vietnamese follow a vegan diet.

In addition, schools across the country were on a summer break in August, thus fueling the decline.

In related news, statistics from the General Department of Vietnam Customs showed that the country spent nearly $125 million importing some 61,000 metric tons of meat and meat products in July, falling 1.1 percent in volume and over 11 percent in value year on year.

In the first seven months of the year, the country's total imports of meat and meat products rose 1.6 percent in volume but declined 8.4 percent in value year on year, at 356,000 metric tons and $723 million.

The majoirty of Vietnam’s meat imports came from India, Russia, the U.S., Brazil, and South Korea.

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