A consumer buys pork at a market in the central province of Ha Tinh (Photo: VNA) Hanoi (VNA) – Deputy Prime MinisterVuong Dinh Hue stated that this year’s inflation is controllable, at 3.3 – 3.9percent, while chairing a November 18 meeting on the recent surge in prices ofpork, an essential foodstuff.
Deputy Minister of Agriculture and RuralDevelopment Phung Duc Tien reported that from early February to November 15,African swine fever was recorded in almost 8,500 communes across the 63 provincesand cities. Up to 5.88 million pigs weighing 337,000 tonnes were culled,accounting for over 8.8 percent of the total pig weight nationwide.
Recently, average prices have reached 60,000 –67,000 VND (2.59 – 2.89 USD), even 72,000 VND, per kg of live pigs due tosupply shortage. Meanwhile, in some places, pigs are still transported to Chinavia border crossings, he noted.
Data of the General Statistics Office (GSO) showthat pork prices at present have increased by almost 19 percent from the sameperiod last year. They now stand at 70,000 – 75,000 VND per kg in the north,even 78,000 VND in Lao Cai and Hung Yen provinces; 70,000 VND per kg in thecentral region; and 65,000 – 75,000 VND per kg in the south.
This office predicts that the consumer price index(CPI) in November may rise by 0.8 – 1 percent from last month, and pork pricehikes will contribute 0.75 percent to the CPI expansion.
It also forecast a shortage of more than 200,000tonnes of pork, compared to the total demand for over 600,000 tonnes, in thefourth quarter of 2019. If pork prices continue to increase by 10 – 15 percentto around 80,000 VND per kg, this year’s CPI will grow by less than 3 percentagainst 2018, still under the ceiling limit of 4 percent.
Meanwhile, Deputy Minister of Industry and TradeDo Thang Hai said the country is likely to experience a shortage of 70,000 –90,000 tonnes of pork in live weight for the Lunar New Year (Tet) holiday,which falls on late January 2020.
He said relevant agencies should considerimporting pork if domestic supply is insufficient, adding that this will helpcool down pork prices and reduce inflation expectations.
At the meeting, Deputy PM Hue said supplyshortage is obvious, noting that supply and demand must be balanced on themonthly basis. He asked the Ministry of Industry and Trade and the Ministry ofAgricultural and Rural Development to consider pork import.
However, he noted, the import must ensure supplyfor consumers while not affecting pig farmers, and the move is just to deal withthe temporary supply shortage and not a long-term activity.
Hue affirmed inflation will still be kept at 3.3– 3.9 percent this year and that the Government will manage to ensure supply –demand balance and harmonise interests of consumers, businesses andintermediaries./.
VNA
