AsemconnectVietnam - Since the Lunar New Year, live hog prices have surged, reaching 70,000 - 75,000 VND/kg, the highest level in the past three years, according to Vietnam Industry and Trade Information Center ( VITIC).

This increase is mainly due to a 50-60% drop in live hog supply at major wholesale markets in both the North and South compared to pre-Tet levels. At the Ha Nam livestock and poultry wholesale market, the daily supply of live hogs has decreased to 400-500 pigs per day, just one-fifth of normal levels.
The nationwide pig herd has significantly declined due to outbreaks of foot-and-mouth disease and African swine fever in late 2024, along with a large supply of pork being released into the market for the Tet holiday. These factors have driven prices up immediately after Tet.
Supply and Demand
According to the Ministry of Agriculture and Rural Development (MARD), Vietnam’s total pig herd in 2024 reached 31.08 million head, up 3.3% year-on-year, while live pork production reached 5.16 million tons, an increase of 6.6%.
It is estimated that live pork production in 2025 will exceed 5.4 million tons, up 5% from 2024. MARD forecasts that live hog prices will continue to rise in the early months of 2025 compared to the end of the previous year.
As of February 2025, the national pig herd exceeded 30 million head, growing 3.7% year-on-year. The current supply shortage is only temporary, driven by increased demand after Tet. In addition to reduced domestic supply, Vietnam’s pork imports in 2024 fell by nearly 11% compared to 2023. With lower imports and farmers focusing on selling pigs before Tet, fewer pigs are available for slaughter post-Tet.
However, high pork prices are unlikely to last long as the domestic pig herd remains sufficient to meet domestic demand. According to the Department of Livestock Production, the aftermath of Typhoon Yagi has delayed herd replenishment in northern farms. The 2024 African swine fever and foot-and-mouth disease outbreaks further reduced pig numbers, worsening the supply shortage. Currently, northern traders are aggressively purchasing pigs for the southern market, further tightening supply.
Import and Export
According to the General Department of Customs, in 2024, Vietnam imported 876.67 thousand tons of meat and meat products, valued at $1.78 billion, up 15.2% in volume and 18.1% in value from 2023.
India remained Vietnam’s largest supplier of meat and meat products, accounting for 22.14% of total imports, with 194.06 thousand tons worth $644.91 million, up 9.9% in volume and 23% in value compared to 2023.
Vietnam mainly imported:
• Fresh, chilled, or frozen poultry meat and edible by-products
• Frozen buffalo meat
• Fresh/chilled/frozen edible by-products of pigs, buffaloes, and cattle
• Fresh/chilled/frozen pork and beef
Pork imports, however, declined. In 2024, Vietnam imported 109.8 thousand tons of fresh/chilled/frozen pork, worth $257.29 million, down 8.9% in volume and 12.2% in value from 2023. The average import price was $2,338 per ton, down 3.7% year-on-year.
Vietnam sourced pork from 43 markets, with:
• Brazil supplying 39.95%
• Russia supplying 30.33%
• Canada 6.35%
• Germany 6.04%
• Netherlands 3.89%
• Other markets accounting for 13.45%
According to preliminary data from the General Department of Customs, in 2024, Vietnam exported 24.5 thousand tons of meat and meat products, valued at $117.02 million, up 8% in volume and 6.1% in value compared to 2023.
Vietnam exported meat and meat products to 37 markets, with Hong Kong being the largest destination, accounting for 50.65% of total volume and 59.59% of total value, with approximately 12.3 thousand tons worth $69.73 million, up 27.6% in volume and 16.1% in value from 2023.
Vietnam’s main exports to Hong Kong included:
• Whole frozen suckling pigs
• Whole frozen pigs
In 2024, meat and meat product exports to markets such as Belgium, France, Laos, and Singapore grew significantly. However, exports to China, the US, Canada, Malaysia, Cambodia, Japan, the Netherlands, and South Korea declined.
The main categories of exported meat and meat products were:
• Fresh/chilled/frozen pork, accounting for 39.15% of volume and 50.32% of value
• Fresh/chilled/frozen poultry meat and edible by-products, accounting for 28.91% of volume and 25.76% of value
• Other fresh/chilled/frozen meat and edible by-products, accounting for 28.95% of volume and 21.99% of value
• Other categories, accounting for 2.99% of volume and 1.94% of value
Fresh/chilled/frozen pork remained the top export product, with 9.4 thousand tons worth $58.88 million, down 11.9% in volume and 7.1% in value compared to 2023.
• Exports to Hong Kong declined 9.1% in volume and 6.5% in value from 2023.
• However, exports to Malaysia and Singapore continued to grow.
T.Huong
Source: Vitic