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Dec 24, 2019 / 12:17

PM dismisses concern of pork shortage in Vietnam

Prime Minister Nguyen Xuan Phuc requested the government agencies to strictly punish whoever is giving false information regarding this matter.

With the remaining of 25 million pigs after the African swine fever, Vietnam has sufficient pork supply for the domestic market, according to Prime Minister Nguyen Xuan Phuc.

 Prime Minister Nguyen Xuan Phuc at the conference. Source: VGP. 

Drastic measures from the agricultural sector has helped contain the outbreak and minimized its impact, said Phuc at a conference on December 23.

Statistics from the Ministry of Agriculture and Rural Development (MARD) said the fever led to a loss of 342,000 tons of pork, however, Vietnam still managed to save around 25 million pigs and 109,000 breeding pigs.

Meanwhile, there have been increases in production of poultry and fisheries to meet the market demand, said the MARD.

Phuc refuted concern of pork shortage in Vietnam given a herd of 25 million pigs, not to mention the declining trend of average price of live hog from VND90,000 (US$3.88) per kilogram to VND80,000 – 82,000 (US$3.45 – 3.54) per kilogram.

Phuc requested government bodies to strictly punish whoever is giving false information regarding this matter.

“Anyone who commits speculation of pork prices would be punished,” stressed Phuc.

Phuc referred to the issue of psychological inflation, saying if the word “pork shortage” is mentioned repeatedly, pork prices in the market will increase.

According to Phuc, in case of necessity, Vietnam could import a few thousand tons of pork to lower the market prices.

The MARD reported in the fourth quarter of 2019, demand for pork in Vietnam is estimated at 600,000 tons, while supply is over 400,000, indicating a shortage of 200,000 tons. However, recently, the Ministry of Industry and Trade said the shortage may be 300,000 tons.

At the conference, Phuc expected Vietnam to become one of the most advanced countries in agriculture, in which a number of agricultural exports at top of the world in terms of earnings.

In 2020, the GDP contribution growth of the agricultural sector is expected to be at 3%, and export value of agro-forestry – fishery at over US$43 billion.

By 2025, Vietnam targets to maintain contribution growth in GDP of the sector at 3 – 3.5% with exports of US$50 billion, making the country at top of ASEAN peers and in the top 10 of the world in terms of agricultural exports. 

To achieve these objectives, Phuc expected the sector to speed up the restructuring process; increasing the rate of information technology application; and following the market demand.