In the days after the Lunar New Year, the price of live pigs increased to 75,000 VND/kg, the highest level since 2023. This price also increased by nearly 10,000 VND/kg compared to the time before the Lunar New Year.

High price of live pigs is still within market rules

At the Ha Nam livestock and poultry wholesale market since the Lunar New Year until now, the number of pigs coming to the market is only 1/10 compared to the time before Tet and 1/5 compared to other normal days.

Mr. Nguyen The Chinh - Head of the Management Board of the Ha Nam Livestock and Poultry Wholesale Market - said that normally, after Tet, live pigs are transported from the South to the North for sale, but this year, traders from the South went to the North to buy.

In addition, pigs weighing more than 100kg are also very rare, only pigs weighing 100kg or less are available, so the shortage is even worse. These days, the number of pigs coming to the market is very small, so as soon as they arrive, traders buy them all.

However, this price will not last long, because consumption demand will decrease after the opening of the first festivals of the year, while the total pig herd still basically meets demand and farmers are actively restocking.

Sharing the same opinion on this issue, Mr. Nguyen Kim Doan - Vice President of Dong Nai Livestock Association - said that normally after Tet, consumption demand decreases, the price of live pigs will decrease, but this year the price has increased. Currently, local traders are purchasing at 72,000 - 73,000 VND/kg.

Pig prices are still on an upward trend due to recovering demand, but supply is in short supply. Farmer herd rebuilding is low due to disease concerns and high piglet prices. Even large livestock enterprises are facing difficulties due to African swine fever and other diseases, causing output to decrease. In addition, high demand for Tet also contributes to the shortage after Tet. Pig prices will continue to increase when schools and processing zones resume full operation, but it is difficult to surpass the peak of 2020.

Similarly, according to Mr. Nguyen Xuan Duong - Chairman of the Vietnam Livestock Association, the price of live pigs increased because the demand for pork after Tet is still high because festivals and tourist areas are recovering, the number of visitors going sightseeing and relaxing after Tet is still high. This is understandable, not too unusual, but the possibility of a pork shortage is unlikely. According to forecasts, by March, pork prices will return to normal.

Similarly, Mr. Duong Tat Thang - Director of the Department of Animal Husbandry (Ministry of Agriculture and Rural Development) - said that the price of live pigs is higher than before Tet but is still within the rules of the market.

The reason for the increase in live pig prices is due to the high demand for tourism and festivals at the beginning of the year, while the consumption of pigs during Tet also increased by more than 20%, leading to a decrease in the total herd. However, the current high pig prices will be difficult to maintain for long because the total domestic pig herd is still basically able to meet domestic demand with more than 30 million pigs.