Northern pig prices continue to fall

The price of live pigs today, November 11, in the North recorded a decrease of 1,000 VND/kg in the two provinces of Vinh Phuc and Ha Nam , to 49,000 VND/kg and 50,000 VND/kg, respectively.

Pig price today 11/11: (Source: Investor)

Pig price today 11/11

* The live hog market in the North recorded a decrease of 1,000 VND/kg in the two provinces of Vinh Phuc and Ha Nam, to 49,000 VND/kg and 50,000 VND/kg, respectively.

The remaining provinces and cities have no new changes.

Today's live pig price in the North is around 49,000 - 50,000 VND/kg.

* Pig prices in the Central and Central Highlands regions remained stable across a wide area.

In particular, the lowest price of live pigs in the region is 49,000 VND/kg, continuing to be present in Thanh Hoa, Nghe An and Ha Tinh .

Meanwhile, Lam Dong and Binh Thuan provinces are anchored at the highest threshold of 53,000 VND/kg.

Currently, the price of live pigs in the Central and Central Highlands regions ranges from 49,000 - 53,000 VND/kg.

* In the Southern region, pig prices remained unchanged compared to yesterday.

Accordingly, live pigs in Ca Mau are being purchased at 55,000 VND/kg, the highest in the region.

51,000 VND/kg is the lowest price of live pigs currently available in Ben Tre province.

The price of live pigs in the Southern region today fluctuates between 51,000 - 55,000 VND/kg.

* China's pork consumption in 2024 is expected to decline 1% from 2023 to 58.15 million tons due to lower domestic production, according to the US Department of Agriculture (USDA).

In 2023, higher consumption is mainly due to higher domestic supply, however the slowing economy has led to weaker demand and a pork oversupply in the first half of 2023.

In 2024, China is expected to continue to prioritize stabilizing pork prices. China's pork imports in 2024 are expected to increase slightly to 2.32 million tons due to lower domestic production. In 2023, pork imports are estimated at 2.3 million tons, up 8% year-on-year.

According to the National Bureau of Statistics of China, in the first nine months of 2023, China's pork output increased by 3.6%; while China's pig population reached 442.29 million, down 0.4%, and 537.23 million pigs were slaughtered in the first nine months of 2023, up 3.3% year-on-year.

Although total pork imports so far this year are higher than the same period in 2022, the increase has been gradually narrowing in recent months.

According to data from the China Customs Administration, in the first 9 months of 2023, China imported 1.26 million tons of pork (HS 0203), worth 2.94 billion USD, up 4.7% in volume and 16.7% in value over the same period in 2022.

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