Vietnam spends nearly 190 million USD on importing pork in ten months
Vietnam spent nearly 190 million USD on importing about 89,000 tonnes of pork in the first ten months of this year, according to the General Department of Vietnam Customs.
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| Vietnam spends nearly 190 million USD on importing pork in ten months. This is Huu Nghi importing pork shop. (Source: Huu Nghi) |
The figures showed year-on-year decreases of 34.4% and 39.6% in volume and value, respectively.
In the first ten months of 2022, Vietnam imported pork from 30 markets, including Brazil (37.3%), Russia (24.9%), Germany (12.8%), Canada (8%), and the Netherlands (4.7%). Except for Brazil, the amount of pork imported from the other markets decreased compared to the same period in 2021.
In October 2022, Vietnam imported nearly 12,000 tonnes of pork, valued at 26.02 million USD, down 5.6% in volume and 22.4% in value compared to the figures a year earlier.
Meanwhile, in October this year, the country earned 5.77 million USD from exporting about 1,000 tonnes of pork, up 113.3% in volume and up 68.6% in value. Vietnamese pork is mainly exported to Hong Kong and Laos.
According to the Agency for Foreign Trade under the Ministry of Industry and Trade, the amount of exported pork accounted a small proportion of the country’s total pork output due to limitations in processing, market forecasting for production adjustment and disease prevention and control.
Pig breeding costs in Vietnam are higher than the world’s average, resulting in the lower competitiveness of the country's pork.
As Tet (Lunar New Year) is approaching, the domestic demand for cattle and poultry meat is expected to increase but the hike will not be high because of abundant supplies, according to the department.
In 2023, Vietnam's livestock sector strives to achieve an output of more than 4.5 million tonnes of live pigs and pork prices are expected to rise by 5% thanks to increased demand and reduced supply.
(Source: VNA)
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