Pork Demand Forecast to Surge, Prices Expected to Rise During Tet Holiday

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With the Lunar New Year just two months away, the demand for food processing and consumption, particularly pork, is expected to surge by 15% to 20%. To ensure a stable supply, the livestock industry nationwide has proactively implemented measures to guarantee sufficient production for the year-end market.

According to the Department of Livestock and Animal Health, the industry anticipates supplying approximately 500,000 tons of pork during the Lunar New Year month alone. The Hanoi Department of Industry and Trade reports that Hanoi will require up to 60,000 tons for the upcoming year-end and Lunar New Year period. Alongside other localities across the country, Hanoi has begun preparations to meet market demands.

Operating a closed-loop livestock chain with a total herd of 5,000 pigs, Hoang Long Livestock Cooperative (Hanoi) manages every stage from feed production to livestock breeding, slaughtering, and food processing. Throughout the year, they supply an average of 80 tons of pork per month. Anticipating higher demand this year, the cooperative has planned for herd replenishment and is currently nurturing and protecting the herd to ensure ample supply for the year-end and Lunar New Year.

“This year is somewhat special, and we observe an increase in Lunar New Year demand. Despite significant price drops in recent months, forcing farmers to incur losses, we predict a pork shortage during the holiday. Therefore, we are increasing our supply by 30%,” said Mr. Nguyen Trong Long, Director of Hoang Long Livestock Cooperative, Dan Hoa Commune, Hanoi.

Although Mr. Ngo Van Chung in Soc Son operates a small-scale household farm, he consistently maintains a herd of approximately 800 pigs. As in previous years, he restocks around August to ensure timely sales by year-end. Mr. Chung notes a difference in this year’s pork output compared to last year.

“This Lunar New Year, our farm will sell around 1,000 pigs, totaling over 100 tons. Traders have already signed contracts, but the selling price will be determined at the time of sale,” Mr. Chung explained.

After a month of steep price declines, pork prices have rebounded to 57,000 – 61,000 VND/kg, according to businesses and farms. However, prices are expected to rise further as peak consumption approaches.

With just over two months until the year-end and Lunar New Year, the Ministry of Agriculture and Environment advises businesses and farms to prioritize disease prevention, especially African swine fever, to maintain herd stability and prevent losses.