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Vietnam tries to curb soaring pork prices

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Staff Writer | August 17, 2018
Prices of live pigs in Vietnam are the highest in many years, prompting officials to call for measures to stabilize the domestic pork market, local media reported on Friday.
Vietnam pork
Asia   Price of live pigs soared to 57,000 Vietnamese dong
Deputy Prime Minister Vuong Dinh Hue instructed municipal and provincial authorities nationwide to coordinate with state agencies to re-develop the production of pigs on a reasonable scale, helping stop traders from holding on to supplies as they wait for higher prices, daily newspaper Vietnam News reported.

He also directed the Ministry of Industry and Trade and relevant agencies to supervise activities of pork traders and major suppliers to reduce costs in circulation and retail distribution, leading to lower retail prices of pork.

In the first half of this month, price of live pigs soared to 57,000 Vietnamese dong ($2.5) per kilogram in some northern provinces and cities, the highest in many years and doubling that in the same period last year.

According to Vietnam's agriculture ministry, the country's pork output in the first quarter of this year dropped 1.2 percent on-year, and then rose 0.4 percent in the second quarter. Pork output is forecast to increase 1.5-2 percent in the second half of this year.


 

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