Some large livestock companies have reduced pork prices. — Photo vietnambiz.vn

Some large livestock companies have reduced pork prices to an average of VND75,000 per kilo, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said after visiting the firms on Sunday.

During the visit, Vu Anh Tuan, Deputy General Director of the CP Viet Nam Company, said his company reduced the price of pigs by VND3,000 per kilo from Saturday to VND73,000-75,000 depending on the kind of meat.

Meanwhile, according to Nguyen Nhu So, chairman of the Dabaco Viet Nam Group’s board of directors, the price of live hogs is between VND73,000-76,000 per kilo depending on the region and the average price is about VND75,000.

Cuong appreciated the reduction in prices by the large enterprises and said it would ensure the livestock industry as well as the domestic market experiences sustainable development.

African swine fever caused Dabaco Viet Nam to lose 20 per cent of its pig herd, especially at its farm in Ha Nam Province. After disinfection, the company has re-produced the pig herd in Ha Nam with 3,200 sows.

According to So, the company's total herd has increased by 5 per cent compared to before the epidemic, reaching 6,000 heads.

From now until the end of this year, the company’s total pigs are expected to increase to 250,000.

In January 2020, pork prices increased by 8.29 per cent to VND90,000 per kilo compared to December 2019, greatly affecting January’s consumer price index (CPI).

Viet Nam’s CPI in January hit a record high, up 1.23 per cent over the previous month and 6.43 per cent year on year, according to the General Statistics Office (GSO). — VNS