Vietnam attempts to cut pork prices to curb inflation caused by swine fever
Vietnam's inflation is seen at 4.22 percent this year if the country can cut pork prices further, the government said on Tuesday.
18 March 2020
3 minute read
By: The outbreak of African swine fever detected in the country last February has forced the culling of around 20 percent of its hog herd and doubled the price of pork, which accounts for three-quarters of total meat consumption.
Live pig prices should be brought down to 60,000-65,000 dong ($2.58-$2.80) per kg by the end of this month from 80,000-85,000 dong, the government said. Vietnam previously set a target to keep this year's inflation below 4 percent.
The ASF outbreak has now subsided and Vietnam has been importing pork, giving room for the prices to be cut, according to the government. National news agency, Vietnam Plus, has reported that Vietnam had imported nearly 25,300 tonnes pork by 15 March, a rise of 205 percent over the same period last year.
According to the report, Prime Minister Nguyen Xuan Phuc recently asked the Ministry of Agriculture and Rural Development and other agencies to implement measures to lower pork prices.
The Minister of Agriculture and Rural Development Nguyen Xuan Cuong has also asked commercial producers to reduce live hog prices to 70,000 VND per kg (3 USD).
