The price of pork products in HCM City will continue to fall sharply because of an abundant supply.
 
Vissan Co has cut pork prices by 2,000 VND per kilograme over last week, and frozen meat prices by 5 percent. San Miguel Co also cut prices by 2,000 VND a kg.

The prices of best-selling pork products at supermarkets such as Citimart, Coopfood and Maximart have been reduced by 10-15 percent.

Supply has increased considerably at the markets, especially in Binh Dien and Hoc Mon wholesale markets.
Tran Quang Trung, owner of a breeding farm in Dong Nai province, said live pork prices had fallen from 37,000 VND to 33,000-34,000 VND per kg.

Tran Van Hac, business director of CP Company, one of the key pork suppliers for the HCM City market and nearbly provinces, said the increased supply was due to large shipments of pork from the north.

According to market analysts, lower consumption of pork in the China market has led to the rise in additional supply from the north.

The price of live pork in the northern region’s breeding farms is 31,000-32,000 VND per kg. Traders transport them to the southern region for sale, aiming to earn high profit.

Price cuts will cause losses for breeding farms, who are already incurring higher costs for feed./.