Vietnam is Asia's second-largest consumer of pork
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- Business
- 19:44 26/05/2022
DNHN - As Vietnam gets back to normal and starts letting people back in, the demand for meat and meat products is expected to rise in the coming months.
According to the Ministry of Agriculture and Rural Development, the recent reopening of restaurants, schools, industries, and companies has increased the demand for meat consumption, causing domestic hog prices to rise.
Currently, the average price of a live hog in Vietnam is between 53,000 and 58,000 VND/kg, an increase of 1,000-3,000 VND/kg from the end of March.
The price of live pigs in the North varies between 53,000 and 56,000 VND/kg. The price of live pigs in the central area and the Central Highlands is between 52,000 and 57,000 VND/kg. In the South, the price of a live hog is between 53,000 and 57,000 VND/kg.
Demand for meat and meat products is projected to rise in the coming months as Vietnam reopens to visitors and normalcy returns. According to the Organization for Economic Cooperation and Development (OECD), Vietnam will rank second in Asia (after China) in terms of pork consumption in 2022, with a total of over 3.4 million. In the decade 2022–2030, the yearly growth rate was 3.1 per cent.
Cow and poultry meat production is expected to exceed 1.6 million tons in the second quarter, up 4.8 per cent from the same period in 2021, according to the Ministry of Agriculture and Rural Development.
Beef production was approximately 110 thousand tons (an increase of 3.4 per cent); buffalo meat production was approximately 28.1 thousand tons (an increase of 2.6 per cent); pork production was approximately 1.05 million tons (an increase of 4.7 per cent), and poultry meat production was approximately 476 thousand tons (an increase of 5.7 per cent).
Because Vietnam's meat production is pretty high and meets most of the local demand, meat and meat products are not likely to be imported in large amounts shortly.
Vietnam's imports of livestock products were $980 million in the first four months of the year (a 15% decrease from the same period in 2021), with the import value of meat, meat by-products, and edible by-products after animal slaughter estimated at USD 408 million (down 12.3 per cent).
PV
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