VN pork consumption forecast as second largest in Asia

May, 17/2022 - 07:16
The Organisation for Economic Co-operation and Development (OECD) forecasts that Việt Nam will rise to the second position in Asia, after China, in terms of pork consumption this year.
Việt Nam will rise to the second position in Asia in terms of pork consumption this year. — Photo laodong.vn

HÀ NỘI — The Organisation for Economic Co-operation and Development (OECD) forecasts that Việt Nam will rise to the second position in Asia, after China, in pork consumption this year.

Accordingly, pork consumption in the country is forecasted to reach 3.4 million tonnes this year, with an annual growth rate of 3.1 per cent in 2022-30.

The Ministry of Agriculture and Rural Development (MARD) said that the reopening of restaurants, schools, and factories was driving up demand for meat consumption.

Live hog prices have grown slightly in some areas. Currently, the average cost of live hogs across the country fluctuates in the range of VNĐ53,000-58,000 (US$2.3-$2.5) per kg, an increase of VNĐ1,000-3,000 per kg compared to the end of March.

The price of live pigs will likely continue to rise when the cost of livestock and petrol is high, but it is unlikely to increase dramatically because schools will enter the summer vacation, catering services have not recovered to the level as before the pandemic.

The output of cattle and poultry meat is likely to reach about 1.6 million tonnes in the second quarter, a year-on-year increase of 4.8 per cent.

In which beef output reached about 110,000 tonnes (up 3.4 per cent); buffalo meat output reached about 28,100 tonnes (up 2.6 per cent); pork production reached about 1.05 million tonnes (up 4.7 per cent), and poultry production reached about 476,000 tonnes (up 5.7 per cent).

Because Việt Nam's meat supply is relatively abundant, basically meeting the domestic consumption demand, it is forecast that the import of meat and meat products will not suddenly increase.

In the first four months of the year, Việt Nam's imports of livestock products reached US$980 million, declining by 15 per cent compared to the same period last year.

The import value of meat, meat by-products and edible by-products after the slaughter of animals was estimated at $408 million, down 12.3 per cent. — VNS