Higher pork prices push related food costs up in Vietnam
The sharp rise in pork prices has driven up the costs of related food in restaurants and markets.
In Hoa Hung Market in HCM City’s District 10, the price of meatloaf has been raised by VND20,000 to VND140,000 per kilo. Meanwhile, the price rise is around VND30,000 for a kilo of Chinese sausage and salted shredded meat.
Nguyen Thi Chau, a trader in the market, said that food made from pork have seen the price hike of 10-20%.
The same situation is seen in other markets in HCM City such as Ba Chieu and Pham Van Hai markets.
Pham Thi Sau, a pork seller on Cach Mang Thang Tam Street, said that higher pork prices have slowed demand. Pork has surged by VND20,000-30,000 per kilo, depending on the cut.
She used to sell around 100 kilos of pork before 10 am every morning, but now, sales are slower.
Many restaurants in the city have also increased their pork-related product prices.
A bowl of noodles with pork has risen by VND3,000-5,000.
The municipal authorities are working with local businesses to ensure supply of essential goods, including pork, under the city’s market stabilisation programme for the Tet (Lunar New Year) holiday.
Nguyen Dang Phu, deputy CEO of Vissan Joint Stock Company, said the company had signed contracts with suppliers to ensure sufficient supply of pork for the holiday, and that production of processed products for Tet was at its peak.
Due to the impact of African Swine Fever, pork supplies have been greatly affected, but the company said it would ensure there were no problems, he said.
In October, Ho Chi Minh City began preparing for the Tet holiday by increasing reserves of pork as well as other meat alternatives for pork with promotions and discount activities.
According to the Ministry of Agriculture and Rural Development, in the first nine months of this year, Vietnam spent up to USD74.2 million on imported pork, up 4.62% on-year, which was also the record high.
The country would face the pork shortage of around 200,000 tonnes in live weight in the fourth quarter of this year. The figure would be around 90,000 tonnes during Lunar New Year which falls on January 20.
The Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development have been instructed to jointly propose to import pork. Dtinews
This years inflation is controllable at 3.3-3.9 per cent, Deputy Prime Minister Vuong Dinh Hue said while chairing a meeting early this week regarding the recent surge in pork prices, an essential foodstuff.
Deputy Prime Minister Vuong Dinh Hue on November 18 assigned the Ministry of Industry and Trade to calculate pork supply and demand every month from now until Tet holiday.