The International Finance Corporation (IFC) has invested 1 trillion VND (43 million USD) into the GreenFeed Vietnam Corporation to help it expand its pork production activities.
The Ministry of Planning and Investment (MPI) is drafting a decree to support the development of enterprises investing in agriculture and rural areas in a bid to draw investment into the sector.
Russia earned 130.5 million USD from exporting 63,500 tonnes of pork and viscera to Vietnam in 2020, equivalent to 25 percent of Vietnamese pork imports, thereby becoming the largest pork supplier to the Southeast Asian nation.
Vietnam imported more than 141,000 tonnes of pork worth 334.4 million USD in 2020, representing a rise of 382 percent and 500 percent over the previous year, respectively, customs statistics showed.
After performing well last year despite the COVID-19 pandemic, many companies have prepared new plans for 2021. While some firms, such as GELEX, have doubled their targeted profits, others which reported good results in 2020 have lowered their expectations.
Retailers in HCM City are focusing on stimulating demand for the Lunar New Year (Tet) holiday in February and ensuring that supply is adequate and food safety standards are met.
According to the Minister of Agriculture and Rural Development, the agriculture sector earns 40 billion USD from shipping farm produce to 120 countries, however, there are few products from the livestock industry such as honey, salted eggs and suckling pigs.
Efficient reproduction of pigs and enhancing imports of frozen pork and live pigs have made prices of live hogs fall, according to the Ministry of Agriculture and Rural Development (MARD).
The Thai Department of Internal Trade (DIT) Director-General Whichai Pochanakij has asked the Swine Raisers Association of Thailand to limit pig prices to 80 baht (2.56 USD) per kilogram.
With huge inflation pressure on the way in the remaining months of this year, a close watch must be kept on the prices of key products like oil and pork to hit the goal of keeping inflation below 4 percent, experts have said.
Vietnam’s CPI this year must be controlled and grow by less than 4 percent, and this is one of the tasks to develop the economy during the remaining months of 2020, Prime Minister Nguyen Xuan Phuc said on July 1.
The June consumer price index (CPI) rose 0.66 percent month-on-month and 3.17 percent year-on-year but was down 0.59 percent against December 2019, the General Statistics Office reported on June 29.
Prime Minister Nguyen Xuan Phuc has asked ministries, agencies and localities to do their best to reach the highest possible socio-economic targets this year.
The local consumer price index (CPI) fell to the lowest level in five years this month, but for the first five months of the year, the CPI still peaked due to rising pork prices.
The CP Livestock Joint Stock Company (CP Vietnam) expects to put a pig slaughter plant into operation at the end of this year at the Phu Nghia Industrial Park in Hanoi’s outlying Chuong My district with a total investment of 450 billion VND (19.3 million USD).
Prime Minister Nguyen Xuan Phuc has recently urged Hanoi to build development scenarios at different levels amid big changes in the world, regional and national economies to take advantage of all new opportunities and overcome difficulties to contribute more to the national development.
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