Forecasts of increases in pork imports

According to the General Department of Customs, in the first six months of 2021, Vietnam's pork imports reached 80.85 thousand tons (fresh chilled pork and frozen pork), worth USD 187.13 million, an increase of 154.8% in volume and 144.9% in value over the same period in the previous year. The average import price reached USD 2,314/ton, a 3.9% decrease in comparison to the same period in 2020.

In particular, Russia is the largest market supplying pork to Vietnam with numbers up to 33.86 thousand tons, valued at USD 93.38 million, an increase of 414.1% in volume and 405% in value over the same period of the year before. The average import price reached USD 2,757/ton, down 1.8% compared to the same period in 2020.

Although Vietnam's pig production scale has nearly recovered to the state before African swine fever (ASF) occurred, Vietnam will continue to import pork due to the supply-demand deficit.

As stated by Rabobank, the strong import momentum is likely to continue in the second half of 2021. In addition, the price of imported pork may decrease due to increasing global trade competition as demand in China has weakened.