Vietnam could be one of the very few countries in the world where imported meat is sold cheaper than domestic ones, despite the inflationary shipping cost.
The popularity of local pork has resulted in imported pork being sold at half its price, i.e. at only Dong 60,000 to 90,000 (US$2.54 – US$3.80) per kg. Despite the lower price, demand for imported pork is still in decline.
The Agency of Foreign Trade at the Ministry of Industry and Trade attributed the decline to the falling demand from consumers after a significant repopulation of domestic pig herds, resulting in more stable pork prices in the country. As of July 2022, the total volume of imported pork had reached over 55,200 tons, worth more than US$117 million, a year-on-year drop of 40% and 50% in volume and value terms respectively.
France-based market research firm, Ipos claimed that Vietnamese tend to eat lesser pork, roughly 23.5 kg per year which is lesser than pre-pandemic period of 26kg.
Major pork exporters to Vietnam is Brazil (37.5%) followed by Russia, Canada, Poland and Denmark.
Vietnamese opt for local pork as it is considered more fresh despite its higher prices of Dong 130,000 to 150,000 (US$5.50- US$6.34).
