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Retail pork prices soar VND10,000 per kilo

by 5m Editor
26 November 2007, at 10:35am

VIET NAM - Big enterprises like Sai Gon Agriculture Incorporated (S.A.I) and Ho Chi Minh City’s leading meat processor Vissan began raising retail prices of pork by approximately VND10,000 (US$0.6) per kilogram Saturday.

The price raise was implemented in an attempt to compensate for the rise in the price of live-weight pork. The price of live-weight pork has increased by over 30 percent and this is the first price change since the increase.

Although the price of live-weight pork has climbed up constantly and incrementally, S.A.I and Vissan’s new price is still 20 percent below the current market price.

The S.A.I has maintained its supply to the market with a total of around 7-10 tons of fresh meat per day.

Yesterday, the company increased its market supply of chicken by 30 percent and beef by about 10-15 percent. Despite the increase, S.A.I has tried to keep chicken and beef prices stable.

The general director of Vissan, Bui Duy Duc stated yesterday that other than the 18 tons of pork supplied to supermarkets, restaurants, private businesses and schools, Vissan also provided the market with 10 tons of frozen pork at a 10-15 percent lower rate than that of fresh pork.

Source: VietnamEconomy

5m Editor