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VietFoodstuff Trade and Market (Week November 17th – November 23 rd)
28 | 11 | 2008
Currently, prices of some feed ingredients are low, corn price at Chicago market (U.S) ranges at 400 Uscent per bushel, Indian soybean meal price continues to decline to 269-271 USD/ton. Moreover, feeder price also drop down 10,000-20,000 VND per kg compared to June and disease epidemic only is found in some provinces so feed production enterprises are increasing investment and production for Tet festival.
Currently, prices of some feed ingredients are low, corn price at Chicago market (U.S) ranges at 400 Uscent per bushel, Indian soybean meal price continues to decline to 269-271 USD/ton. Moreover, feeder price also drop down 10,000-20,000 VND per kg compared to June and disease epidemic only is found in some provinces so feed production enterprises are increasing investment and production for Tet festival.

This week, Indian soybean price at Bedi/Kandla port continues to go down in the range 269-271 USD per ton. In nearly time, corn price declines constantly due to a decrease of world food price; moreover, India as well as cereals exporters do not limit the export to ensure national food security. Furthermore, a world oil decline (down further 60% compared to the record price by July) makes demand on using cereals for biological fuel production reduce and increase supply

sources.

Source:
www.agro.gov.vn

Soybean price in Hanoi starts declining 7.89% compared to last week (down 1,500 VND per kg). It declines to 13,250 VND per kg (down 5.36%) in Can Tho, down 3.13% in Da Nang and Can Tho to 15,500 VND per kg.



Source:
www.agro.gov.vn

This week, price of more 80 kg-live hog continues to be down at markets. It is only 28,250 VND per kg in Can Tho (a decrease of 2.59% compared to last week), 31,250 VND per kg in Da Nang (down 2.14%), down 2.27% to 32,250 VND per kg in Ho Chi Minh. At 34,250 VND per kg, due to a high price increase after flood, the price in Hanoi is still much higher than other markets; this week, it increases 4.94% compared to last month.

Similar to live-hog trend, rump pork prices at markets are down. This week, the price is 61,000 VND per kg (down 1.59%) in Da Nang and 62,000 VND per kg in Ho Chi Minh (down 1.59%). In Can Tho, it declines further 0.86% (down 500 VND per kg) to 57,500 VND per kg and in Hanoi, it continues to go down 4,000 VND per kg (down 6.15%) to 61,000 VND per kg.

Prices of foodstuffs and vegetables increase sharply after flood so current vegetable prices are still high. Thus, a decrease of rump pork price within 2 past weeks can not pull up consumer’s purchasing power.

This week, price of ready-to-made chicken in Hanoi remains unchanged 80,000 VND per kg for the original chicken and 40,000 VND per kg for industrial chicken. In Lam Dong, the price continues to remain steady 42,000 VND per kg for the industrial chicken and 90,000 VND per kg for the original chicken.

According to chicken importers, world chicken price decreases sharply in nearly time (chicken leg from 1.5 USD per kg to below 1 USD per kg, chicken wing from 2.1 USD per kg to 1.8 USD per kg) so the current price in Ho Chi Minh also declines in the range of 4,000-5,000 VND per kg, down to 42,000 VND per kg for chicken wing and 31,000 VND per kg for chicken leg.

Difficulties of livestock are raising a question: Next New Year, whether or not supplies of meat and foodstuff can meet domestic consumption demand ; if there is a shortage of foodstuff, how it will be. According to a representative of Vissan, to meet consumer’s demand next New Year, they will likely slaughter about 70,000 pigs – 1,500-2,000 heads per day on average. Director of Huynh Gia Huynh De company said that they would likely reserve 200 tons of poultries to service Tet festival, an increase of further 20% compared to the same period last year. Phu An Sinh company will be likely to raise 500,000 poultries to service Tet festival.

According to forecasts on meat prices from director of Phu An Sinh, they would be able to apply prices from last Tet festival. Mr Trung-Director of Huynh Gia Huynh De company said that original chicken was more 90,000 VND per kg, 39,000-45,000 VND per kg for Tam Hoang chicken and 43,000- 45,000 VND per kg for ducks.

At the end of every year, purchasing power increases sharply, which pushes prices up slightly however this year sudden movements of market push down prices as well as purchasing power. From October to present, purchasing power has declined about 20% from August-September. In the upcoming months, it will continue to be low because several customers are expecting a further reduction of price.

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For further information about latest domestic and international updates as well as analysis, comments and forecasts of weekly foodstuff market, kindly order our VietFoodstuff Trade and Market Weekly as follows

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To contact with author:

Bui Minh Nguyet - Email: nguyetminh0607@yahoo.com.vn



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