Pork prices to make huge impact on Vietnam’s CPI in 2020
Vietnam’s inflation in 2020 is forecast to hit 3.5%, higher than the government’s estimated 3.17 – 3.41% in 2019, while the pressure will build up right at the beginning of next year.
Vietnam’s inflation in 2020 is forecast to hit 3.5%, higher than the government’s estimated 3.17 – 3.41% in 2019, while the pressure will build up right at the beginning of next year.
These two markets are not included in the 24 countries and territories having agreements with Vietnam on importing pork.
The CPI increased 2.57% year-on-year in the first eleven months of 2019, the lowest growth rate for a eleven-month period over the last three years.
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.
The 2020 socio-economic plan stressed the importance of restructuring the economy by revising the growth model, and accelerating the implementation of major projects that serve as driving forces for growth.