Vietnam spends more than 600 million USD importing pork19/04/2022
In the first 10 months of the year, Vietnam imported over 332,000 tons of pork of all kinds (not including live pigs), an increase of nearly 300% over the same period last year.
According to data from the General Department of Customs, in the 10 months of 2021, about 350,000 live pigs were imported from Thailand for slaughter, an increase of over 50% over the same period. Along with live pigs, nearly 332,000 tons of pork of all kinds were imported to Vietnam, an increase of nearly 3 times over the same period in 2020. Thus, in 10 months, Vietnam spent 617 million USD to import pork. frozen and live pigs.
Top 5 pork exporting countries in Vietnam market are Russia, Germany, Brazil, Netherlands and Canada, of which Russia alone accounts for 42.8% market share, reaching 142.3 million tons.
In the domestic market, the price of live hog has continuously decreased at 40,000 VND per kg. However, in the last 2 days, the market started to reverse due to increased purchasing power to prepare goods for the Lunar New Year, so live pigs went up around 43,000-50,000 VND per kg. But the retail price of cooked meat is still high, even much higher than that of imported goods.
Previously, there were many opinions that the massive import of pork to Vietnam was part of the reason for the plunge in domestic hog prices. However, according to the leader of the Ministry of Agriculture and Rural Development, imported pork only accounts for a very small proportion of the total domestic pork production. He said that imports are not the main reason for the low price of live hog in recent times, but mainly due to market supply and demand.
Along with pork, in the first 10 months of the year, Vietnam also imported 50,000 tons of beef with a value of $220 million. In which, cows from Australia accounted for 50% of the market share with the amount up to 25,000 tons in 10 months.