Brian Jeffrey
Nguyen Cong Bac, the director of Loc Phat BLLT Livestock JSC, mentioned that live pig prices had surged to VND70,000 per kilogram, allowing the company to gain a profit of 1.8 million per pig. Even though prices have slightly dropped to VND63,000-65,000 per kilogram, pig farm owners can still make a profit of 18-20 percent.
Bac noted that pig farming has been exceptionally profitable this year compared to the previous year. The first quarter of 2024 saw farmers making a small profit, and even more was earned in the second quarter.
Due to a decrease in animal feed prices, all company farms are currently raising pigs at full capacity, handling 10,000-11,000 pigs for meat and 1,500 sows.
The Ministry of Agriculture and Rural Development (MARD) reported that the nation’s pig population had increased in the second quarter as farming households transitioned to semi-industrial farming and partnered with enterprises.
Despite instances of African swine fever persisting in various areas, affecting farming stability, pig prices have managed to remain high, hovering around VND62,000-66,000 per kilogram in July 2024.
Hoa Phat Development of Livestock JSC sold significant numbers of pigs in the first half of 2024 and reported a 34.4 percent revenue increase in animal husbandry.
BAF Vietnam’s livestock revenue spiked by 2.6 times in the initial six months of the year, with post-tax profits soaring by 12 times.
Leading animal husbandry player, Dabaco Vietnam, observed an 11.3 percent rise in net revenue and a substantial post-tax profit surge, illustrating the industry’s profitability.
The production costs for Dabaco were reported at VND48,000-51,000 per kilogram, with supply dwindling more rapidly than demand, resulting in a potential 18-month period to address the shortage.
MARD forecasted that while pig supply may increase again, live pig prices are anticipated to remain high and could see a decline in 2025.
