Yesterday, Mr. Le Huynh Minh Tu led a delegation to visit and work with key enterprises that supply pork products, poultry meat, and eggs for the city market at the peak of the upcoming Lunar New Year festival.
Mr. Nguyen Trong Tri, Deputy Chief Customer Officer of C.P Vietnam Livestock Joint Stock Company, said that in 2020 C.P raised its production by more than 10 percent compared to 2019. Every day, the company supplies to the HCMC market around 3,000-3,500 porkers, accounting for about 30 percent of pork demand in the city. Explaining the constant increase in the price of live pigs, Mr. Tri said that currently, the price of live hogs not only escalates in Vietnam but in Thailand, it is also approaching VND82,500 per kilogram. Especially in China, the price is much higher than that in Vietnam, prompting traders to transport live hogs heavily to this country.
As for the HCMC market, C.P commits to fully providing pigs during the upcoming festive season. On the other hand, the company also complies with the regulations on ensuring the supply and prices of pork under the market stabilization program at 12 outlets in the city.
Regarding poultry meat and eggs, Mr. Tri said that the supply was plentiful, and the prices were stable. Currently, the HCMC market consumes an average of 10 million eggs daily. C.P alone supplies the city market 500,000 eggs, accounting for about 8 percent of the market share. The wholesale price of eggs is currently at an extremely low level of VND1,550 an egg, and the retail price of eggs is VND2,100-VND2,200 an egg.
The representative of Feddy Co., Ltd. said that the supply of fresh pork and fresh food would not be inadequate. In the business season of the upcoming Lunar New Year, Feddy is expected to provide the market with about 550 tons of fresh and frozen pork, 50 tons of sausages and spring rolls made from pork, and 25 tons of dried pork and Chinese sausages. At the peak of the Tet holidays, it can increase its pork production by 20-30 percent. As for processed products, depending on the market demand, it can supply a much higher output than the current plan at stable prices.
At the end of the first working day, Mr. Le Huynh Minh Tu said that the supply of pork, poultry meat, and eggs for the needs of citizens would certainly not be insufficient. The increase or decrease in the price of pork depends on the market demand. However, to stabilize this product, on January 12, HCMC pegged the selling prices for pork products in the market stabilization program during the Tet holidays.
As a result, if the price of live hog and the retail prices of pork in the market advance further, the prices of pork under the market stabilization program will remain stable for the next 60 days. In case it slightly decreases, enterprises will have to boost promotions so that the selling prices of pork in the program are always at least 5-10 percent lower than those of the same products on the market. This price level will also be the reference price for consumers to find outlets in the market stabilization program to buy pork at a stable price.