The price of pork is not forecast to surge over Tet as in previous years, according to the Department of Livestock Production under the Ministry of Agriculture and Rural Development, due to lower purchasing power.
Efficient reproduction of pigs and enhancing imports of frozen pork and live pigs have made prices of live hogs fall, according to the Ministry of Agriculture and Rural Development (MARD).
The price of live hog in the Vietnamese market decreased recently after the Ministry of Agriculture and Rural Development (MARD) allowed imports of pigs from Thailand.
The Ministry of Agriculture and Rural Development (MARD) has allowed local businesses for the first time to import live market hog to reduce pork prices on the domestic market.
The Viet Nam Directorate of Market Surveillance under the Ministry of Industry and Trade has warned that speculation, hoarding and unreasonable pricing of pork market will be strictly punished.
The PM said rising pork prices in recent months had contributed to the country’s increased consumer price index (CPI) and made life more difficult for the people as pork takes up a large part of the Vietnamese diet.
Although pork is plentiful right now, the demand is expected to rise at the end of the year, then rocket by as much as 25 per cent when the Tết (Lunar New Year) holiday is coming near.
The HCM City Department of Industry and Trade has promised to prevent any scarcity of pork or sudden price surges, saying the pork market would be steady.
Pork prices have risen recently following programmes to stimulate demand and to control the number of pigs raised by farmers, according to the Ministry of Agriculture and Rural Development.