Pork high volatility might affect CPI: MARD

The Ministry of Agriculture and Rural Development (MARD) said the pork high volatility can severely affect the consumer price index.

Pork high volatility might affect CPI: MARD

Accordingly, the Ministry has sent its document to chairpersons of people’s committees requiring an adoption of preventive measures including husbandry scale in each locality, volume of pig meat from now to February, 2019, comparison between 2017 and 2018.
According to the Vietnam Customs’ latest information, as of end of June, 2018, around 19,581 tons of pork have been imported into Vietnam worth nearly $22.23 million or a kilogram of imported pork cost $1.13 or VND26,000 without tax. The retail pork price will be VND30,000 per kilogram in the market after adding tax.
In 2017, Vietnam spent nearly $40.2 million to buy 33,115 tons of pork and the country is projected to buy more pork from foreign countries this year.
It is a paradox that while imported pork is very low, Vietnamese consumers must pay high prices. The retail pork prices in August increased VND20,000-30,000 a kilogram compared to June.
Traders offer to buy pork at farms at VND53,000 – 55,000 a kilogram.
MARD fretted the high prices of pork can affect the consumer price index as well as disturb the sector’s equilibrium.
The Ministry called for contribution of breeder and traders not to increase price over VND50,000 per kilogram. Breeders are encouraged to sell pigs rather than keep the animal to speculate. Local government have to implement pork subsidized program as well as advise consumers to switch to alternate meats in response to high pork prices
Nguyen Dang Vang, Chairman of the Vietnam Animal Breeding Association, said that because imported pork is currently cheap compared to domestic kinds; it is predicted that the country will buy more pork from other countries in last months of the year.

By VAN PHUC – Translated by UYEN PHUONG

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