CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnam’s pork shortage predicted to surge to US$1.3 billion by early next year
Ngoc Thuy 18:44, 2019/09/09
The pork shortage is adding pressure to the government’s efforts to keep inflation below 4% this year. About 70% of all meat consumed last year in Vietnam was pork, according to the agriculture ministry.
Vietnam risks a shortage of 500,000 tons of pork, which is valued at US$1.3 billion, between now and the Lunar New Year in January 2020 as African swine fever ravages the nation’s hog herd, according to Ipsos Business Consulting.
 
Illustrative photo.
Illustrative photo.
“The pork supply has become scarce,” Nguyen Tat Thang, general secretary of the Vietnam Animal Husbandry Association was quoted by Bloomberg as saying. “Vietnam’s pork imports jumped 5- to 7-fold in the first half of the year and will rise more through the end of the year.”

It’s unclear, though, if pork producers from markets such as the US and Europe will be able to plug a significant portion of the shortage, said Phong Quach, the country head of Ipsos Business Consulting, to Bloomberg. 

The Vietnamese prefer fresh meat, which is purchased at traditional wet markets, while most imported meat is frozen, he said. Facilities for storing, defrosting, cutting and packaging massive amounts of pork to meet daily consumption and buying habits, and a system to distribute the meat to local markets beyond large supermarkets in major cities, would be needed, Phong added.

The pork shortage is adding pressure to the government’s efforts to keep inflation below 4% this year. About 70% of all meat consumed last year in Vietnam was pork, according to the agriculture ministry.

So far about 5 million pigs have been culled across Vietnam -- equal to 20% of the nation’s hog herd -- since the disease was first reported in two northern provinces at the start of February, Thang said. 

Consumers are likely to start experiencing the pork shortage at the end of October, according to Nguyen Kim Doan, deputy head of the animal husbandry association in Dong Nai province. Adding to the problem is the willingness of some buyers to acquire Vietnamese pigs at premium prices for exports to China, which is also experiencing a severe pork shortage, he said.
Comments
Other news
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.
21:14, 2024/10/31
Vietnam, Brazil: Building bridges through shared history and new partnerships
Vietnam and Brazil are forging a future of mutual development, bridging continents through their shared history and new partnerships.
16:54, 2024/10/29
Hanoi to attract tourists by showcasing local specialties at wholesale markets
Hanoi aims to enhance supervision of food safety and traceability, along with promoting cashless transactions.
16:28, 2024/10/27
National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
This year's event will focus on celebrating and raising the status of Vietnamese products, according to the Ministry of Industry and Trade.
18:39, 2024/10/21
Vietnamese goods in rising demand among Hanoi residents
The domestic market, estimated to be worth US$180 billion and projected to grow to US$350 billion by 2025, presents an opportunity for Vietnamese goods to gain a foothold domestically.