Vietnam’s pork meat market is evolving fast. In April 2024 the country ranked tenth in world consumption, [1] and for 2029, the per capita consumption is forecasted to reach about 32 kilos per person. On the imports side, and as for the first half of the year, the volume rose 4.2% compared to the same time in 2023, according to the General Department of Vietnam Customs. Although pork is a commonly produced meat in the country, it is expected that import share will maintain a significant portion of the whole market, with expected growth from 5.5% to 6% over the next years. Income is rising and dietary habits are changing, with the will to consume more quality proteins such as pork.

Production is expected to surpass 7.89 million tons of pork meat this year (a 4.0% increase from 2023), and professional farming is now producing 65% of the total. But the pig industry is preparing for the Lunar New Year (Tết) and Vietnam is still some steps away from guaranteeing the sufficient and uniform quality supply that consumers will be demanding [2].

During this year, the main concerns were around African swine fever and the cost of feed prices like corn or soybeans.  However, the pork industry keeps facing many inconveniences that don’t allow the sector to deliver consistently. Live prices rose steadily in October since Typhoon Yagi flooded several pig farms in the country. The government’s agency said 22,500 farmed animals, including pigs had been killed during the disaster. Price went from 65 VND (2.43 EUR) before the typhoon up to 70,000 VND/Kg (2.61 EUR) after. The event also disrupted supply chains, so some traders had to raise their live pig prices too.

Furthermore, consumers are demanding better quality of the meat they eat. Pork is no exception.  Dong Nai Livestock Association commented recently on its effort to promote environmental inspections and relocate farms out of residential areas.[3]

The Vietnamese authorities are also trying to advance in this regard, but greener and more health-quality farming may not be that easy. The process of building a new industry requires not focusing on the production itself. It’s been the incapacity of developing a controlled system that has led ASF to keep coming and going for many years now. ASF reduces sows and reproductive efficiency, so supply is never where it needs to be.

Last week of November, Ha Hien Food company (a wholesaler specialised in meat and other processed foods, they supply to key supermarkets in Vietnam) kept showing how domestic and fresh keep getting more expensive. Pork belly is the cut that has been increasing the most in this record-price year. These are some of the main chilled cuts seen in Ha Hien last update:

Most of the frozen product is imported and shows its origin. Prices are more affordable than fresh cuts. Top imported cuts come from Canada, Russia, EU, or Brazil. “EU standard” is understood as high quality and safety

The average price of imported pork is currently at 57,000 VND/Kg (2.12 EUR) so cheaper than the current price of domestic varieties [4]. This sustained difference over the year is making imports grow every quarter. Another reason is that the Chinese market is still in a period of stagnation as demand is low. Many countries are turning south and investing in the Vietnamese market.

[1]https://en.vietnamplus.vn/vietnam-among-worlds-top-10-countries-for-pork-consumption-post284283.vnp

[2] https://dantri.com.vn/kinh-doanh/hon-32000-tan-thit-lon-ngoai-do-ve-viet-nam-gia-chi-hon-57000-dongkg-20241113160421610.htm

[3] https://www.vietnam.vn/en/dongnai/ung-dung-cong-nghe-tang-hieu-qua-trong-chan-nuoi/

[4] https://e.vnexpress.net/news/business/economy/vietnam-spends-1-4b-on-meat-imports-4815513.html