People are enjoying a 5-day holiday for April 30th-May 1st, however, many traditional markets in Ho Chi Minh City are reporting a lackluster atmosphere with slow sales.
At the pork stall in Ba Chieu Market, Binh Thanh District, Ho Chi Minh City, traders all said that pork sales are still slow, with few customers. Prices are stable compared to normal days, with pork belly and spare ribs costing VND 130,000-145,000 per kg; boneless ham hock VND 108,000-110,000 per kg; boneless pork belly VND 168,000 per kg…
“Economic difficulties have reduced income, so people are tightening their spending. Besides, during major holidays, many people return to their hometowns, which further decreases purchasing power in the market. It’s almost noon, but I still have a lot left of the 50kg I put out this morning,” said Mrs. Mai, a long-time vendor at the market.
Plenty of pork, but few customers.
At Ban Co Market in District 3, many pork stalls are still full of unsold meat. Waving a fan to keep away the flies, Ms. Hien, a vendor at the market, said she gets her pork from Hoc Mon wholesale market. Recently, the price of live pigs has increased by about VND 1,000-2,000 per kg, but due to the lack of customers, Ms. Hien cannot raise her prices and even has to lower them at the end of the day.
“I used to sell hundreds of kilograms of pork, and on holidays, that number could double. However, since the COVID-19 pandemic, I have only been able to sell 20-30 kg per day, and I still can’t sell it all. I just hope to break even,” Ms. Hien said.
According to information from Hoc Mon wholesale market, the number of pigs arriving at the market on the weekend is currently around 4,700-5,000 per day. The price of live pigs from farms and households is around VND 63,000-67,000 per kg. Grade 1 pork is priced at VND 84,000 per kg, while Grade 2 is VND 76,000 per kg. Pork after slaughtering and processing is priced as follows: ham hock VND 77,000 per kg, spare ribs VND 145,000 per kg, pork chop VND 76,000 per kg, lean meat VND 102,000 per kg, front leg VND 72,000 per kg, hind leg VND 63,000 per kg, pork belly VND 125,000 per kg… Demand is low.
Mr. Nguyen Kim Doan – Vice President of the Dong Nai Livestock Association – said that the price of live pigs has increased significantly in the past 2-3 months, currently ranging from VND 61,000 to 65,000 per kg, an increase of VND 10,000-15,000 compared to the low point at the end of last year. At this price, farmers are breaking even or making a small profit. However, many are still hesitant to restock due to concerns about disease.
Pork at Hoc Mon wholesale market is priced at VND 76,000-84,000 per kg
The high price of live pigs is a concern for processing companies, but it is good news for companies and farmers.
A leader of the BAF Vietnam Agriculture Joint Stock Company said that as of March, BAF’s total herd had reached nearly 430,000, an increase of 87% compared to the same period last year, corresponding to an output of about 1 million commercial pigs per year. Diseases in 2023 have decimated many herds, resulting in a shortage of supply. Currently, the price of live pigs in the market is around VND 63,000 – 64,000 per kg and is continuing to increase.
At the recent general meeting of shareholders, Mr. Nguyen Ngoc An – General Director of Vissan – said that the sharp fluctuation in the price of live pigs has affected the plans of the livestock industry in general and Vissan in particular. According to forecasts, the average price of live pigs this year will fluctuate around VND 59,000 per kg. However, since the beginning of the year, due to the impact of disease and a decrease in the total herd, the supply has been severely reduced, so the price of live pigs has remained high, from VND 63,000 to 64,000 per kg. It is predicted that the price will continue to increase in the next 3 months, possibly reaching VND 68,000 – 70,000 per kg.
Mr. An said that in the past, Vissan’s processed食品(しよくひん) grew very well, but recently there has been a decline. Although the food industry is essential, due to difficulties in employment affecting income, people are tightening their spending and switching to cheaper food sources such as chicken, fish, etc.
