Thai pig prices have plunged by 30%
Live pig prices in Thailand have dropped by 30% in the last two months due to a limit in stockpiling issued by the Government. As a result, pig prices have dropped from $3.5/kg in January to $2.35/kg at the end of March. All the abattoirs and cold storage units are asked to stockpile their pork no more than 5000kg. The new regulation was issued in January by the Ministry of Commerce in an attempt to curb rising pork prices. Failure to comply with the rule would lead to a heavy fine and jail time.
Nevertheless, the market is expected to experience difficult times ahead, as the African Swine Fever continues to impact pig farms in Thailand. "Everyone knows that the price plunge is temporary. A massive loss of sows and commercial pigs due to African Swine Fever (ASF) remains unresolved and is even increasingly intensified as most farms that were hit by ASF are still reluctant to restock as they are waiting for the ASF vaccine to be legally available in Thailand. The Thai government is working with veterinary sc various universities to develop the vaccine," Paul A. Anderson, General Manager South East Asia / International Sales Manager, Genesus Inc, commented.
However, a growing number of farms affected by ASF are building new units to restart their business with fresh breeding stocks. But this poses another problem as locally produced gilts are increasingly scarce. The only option is to import the gilts from countries free from ASF, Mr. Anderson added in his market report.
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