HCM City to keep pork prices steady despite supply slump

Wednesday, Oct 16, 2019 15:53

HCM City has promised pork prices will not be hit by the shortage caused by African swine fever during Tet (the Lunar New Year) in early 2020. — VNS Photo Van Chau

The management of the HCM City market stabilisation programme for essential goods has decided not to increase pork prices though market prices continue to rise.

In the first 10 days of this month, pork prices on the farm increased by a third to VND60,000 (US$ 2.66) per kilogramme.

Businesses participating in the price stabilisation program such as food company Vissan Joint Stock Company are under pressure, but its deputy general director, Nguyen Dang Phu, has promised the company would continue to supply at the same price.

He said that the price of meat would increase further when the supply of pigs decreases due to the African swine fever epidemic since farmers do not dare breed more of them, he added.

To ensure supply and demand of pork do not go out of kilter, the city Department of Industry and Trade plans to promote the use of frozen pork.

It has also called on enterprises to proactively stimulate demand for other meats through promotions and price cuts and increasing the supply of other meats such as poultry.

It will closely monitor changes on supply and demand of meats and prices, especially of pork, and other developments in the market.

The city’s market stabilisation programme for essential goods seeks to ensure social benefits by meeting demand, especially from low-income consumers.

Since being instituted in 2002, the annual programme has sought to stabilise the prices of essential goods during festival seasons, when there is a spike in demand. — VNS

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