Vietnam to imports 100,000 tons of pork in Q1 to offset shortage
Vietnam would import 100,000 tons of pork in the first quarter this year to stabilize the domestic market and lower pork prices, which have surged since the outbreak of African swine fever.
Statistics from the Ministry of Agriculture and Rural Development (MARD) suggested the fever led to a decline of 14% of pork supply compared to 2018.
As of December 2019, the nation’s hog herd shrank by 25.5% year-on-year, causing pork output to fall 13.8% year-on-year to 3.29 million tons.
Under such a circumstance, the Export – Import Department under the MoIT has been working with traders to import pork from countries such as the US, France and Belgium.
The US Department of Agriculture forecast the world’s pork supply in 2020 to decline by 10% due to the fever. Pork production in China would decrease 25%, 16% in the Philippines, and 6% in Vietnam .
The MoIT said it is closely working with the MARD in ensuring the demand-supply balance of pork in the domestic market, while supervising the quality of imported pork.
Over the past few days, prices of live hogs in Vietnam’s south-western region fell by VND20,000 (US$0.86) compared to the end of 2019 to below VND80,000 (US$3.44) per kilogram. In the northern region, the price has declined by VND10,000 (US$0.43) to below VND90,000 (US$3.87) per kilogram.
Deputy Prime Minister Vuong Dinh Hue said in a government meeting last December that pressure from high pork prices may push inflation to over 4% in the first quarter of 2020.
Meanwhile, Prime Minister Nguyen Xuan Phuc said with the remaining of 25 million pigs after the African swine fever, Vietnam has sufficient pork supply for the domestic market. hanoitimes
Nguyen Xuan Cuong, Minister of Agriculture and Rural Areas talks on his resolve to support pig farmers following the African swine fever crisis.
In addition to businesses that have already established inroads in the country, over 50 foreign enterprises have expressed an interest in exporting pork products to Vietnam, according to the Ministry of Industry and Trade.