Customers buy pork at a supermarket in HCM City. The city and pork distributors have ensured adequate supply of the meat at below market prices for Tet . – VNS File Photo

HCM City distributors have stockpiled enough pork to meet demand during Tet (Lunar New Year) in mid-February, Le Huynh Minh Tu, deputy director of the city Department of Industry and Trade, has said.

The CP Livestock Joint Stock Company is for instance committed to supplying price-stabilised pork through 12 outlets in HCM City.

Nguyen Trong Tri, its deputy sales director, said his company would meet 30 per cent of the demand.

Feddy Company Limited, a subsidiary of The GreenFeed Viet Nam Corporation, will supply 550 tonnes of fresh and frozen pork and 75 tonnes of pork-based products.

During the peak demand period, its pork production will surge by 20-30 per cent.

According to the city Department of Finance, companies that signed up for the price stabilisation programme such as the Saigon Union of Trading Cooperatives (Saigon Co.op), Big C supermarket, VISSAN Joint Stock Company, and Sagri Agriculture Incorporation, are allowed to increase pork prices only by VND6,000-15,000 (US$0.26-0.65) per kilo from January 12.

Prices are thus expected to stay 5-23.4 per cent below market rates until March 13.

If the prices of pig on the hoof decrease, distributors will launch promotions to maintain the price gap at 5-10 per cent.

According to the Department of Animal Husbandry, pig stocks have recovered to 87 per cent of the number before the outbreak of African swine fever last year.

This year Viet Nam has also imported 600 tonnes of pork ahead of Tet. – VNS