Prices of pork soar, purchasing power weakens

SGGP
Many small butchers at markets in Dong Nai Province on November 23 said that pork purchasing power of consumers has recently dropped by 20-25 percent in comparison with that at the beginning of October so sale of pork at many butcher stalls has been slow, daily meat supply has also been decreased, causing them several difficulties.

Prices of pork soar, purchasing power weakens

Purchasing power of pork weakened as the African swine fever had made pork supply become scarcity, leading to high pork prices, prompting consumers to replace pork by other food.

Surveys at large markets in Bien Hoa City showed that retail prices of pork have continuously climbed for a month. Particularly, the price of fillet pork was at VND100,000-VND140,000 per kilogram, an increase of VND20,000-VND35,000 per kilogram over the past month; the price of pork belly was at VND110,000-VND145,000 per kilogram; the price of ham was at VND110,000-VND130,000 per kilogram; the price of pork chops was VND90,000-VND125,000 per kilogram; and the price of pork ribs was VND160,000-VND195,000 per kilogram.

In order to ensure pork supply, the Department of Industry and Trade of Dong Nai Province advised the provincial People’s Committee to provide a reserve fund of around VND30 billion for pork supply when pork scarcity or price hike occurs in the province.

Accordingly, the fund will support payments of shipping, supplying and distributing costs of goods to places where there is a shortage of goods. The department will also have a plan to ask livestock and slaughtering facilities and enterprises to timely provide food when needed. This reserve fund is a part of a plan to stabilize prices of some essential goods during the last months of this year and lunar New Year holidays.

By Tien Minh – Translated by Thuy Doan

Other news