Pork purchasing power declines sharply due to extremely high prices

According to wholesale markets, pork supply remained stable but due to extremely high prices, purchasing power weakened so traders and small butchers have actively reduced supply to avoid the state of being unsalable. 

The Department of Industry and Trade on December 12 met representatives of two wholesale markets for agricultural products and food, namely Binh Dien and Hoc Mon, in order to evaluate supply, demand and prices of pork from now to lunar New Year. These two wholesale markets currently supply around 80 percent of pork for daily consumption needs of people in Ho Chi Minh City.

At the meeting, representatives of wholesale markets said that prices of pork quoted by husbandry enterprises continued to climb by VND1,000-VND2,000 per kilogram to VND76,000-VND77,000 per kilogram.