Thailand takes the role of main supplier of live pigs in SE Asia
Thailand has become one of the main suppliers of live pigs in Southeast Asia and reported a peak of $2.6/kg in live pig prices in January 2020. Growing demand for live pigs in Cambodia and Vietnam is motivating Thai pig farmers to boost their exports across the border. Over the Chinese New Year period, live pig prices in Vietnam hovered to $3.50/kg and $2.80/kg in Cambodia, according to the latest Genesus Global Market report.
However, the Thai government takes action to limit the live pig exports aiming to curb down the prices. "The Thai Swine Raisers Association estimated that the pig population in Thailand was at about 950,000 heads in 2019, 15% lower than the previous year. The farmers reduced the number of breeding stock throughout last year due to concerns over African Swine Fever, which is hitting neighboring Laos, Cambodia and Myanmar. Thailand is expected to produce 22 million market pigs this year.
The association said pig supplies in Thailand would continue to be tight over the next few months as the summer is coming. Rising temperature leads to the slow growth of pigs and a shortage of water will raise the production cost further," reported Paul Anderson, General Manager South East Asia and International Sales Manager for Genesus Inc.
That would create a larger gap in Vietnam's pork supply as the country managed to keep the prices under control by importing pigs from Thailand. "Pork shortage has been gripping the country following months of excess pork supply due to panic slaughtering of the herd, which has the effect of depressing prices. It is believed that the existing pork supply shortage is likely to persist over 2020. This would also put upside pressure on the prices of other animal protein. Pork production is likely to only recover somewhat closer to 2023.
Food inflation almost doubled to 9.2% in December 2019, from 5.6% in November 2019, on the back of rocketing pork prices due to the outbreak of African Swine Fever, which has affected all 63 provinces. High inflation also weighs on Vietnam’s export competitiveness,", added Mr. Anderson.
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