Vietnam: Pork Market 2024

Pork Market Size in Vietnam

The Vietnamese pork market declined slightly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Pork Production in Vietnam

In value terms, pork production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Pork production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of pork in Vietnam totaled X kg per head, approximately equating 2021 figures. Over the period under review, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The pork yield peaked at X kg per head in 2019; however, from 2020 to 2022, the yield failed to regain momentum.

In 2022, number of animals slaughtered for pork production in Vietnam fell to X heads, with a decrease of X% against the year before. In general, the number of producing animals, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The number of animals slaughtered for pork production peaked at X heads in 2016; however, from 2017 to 2022, producing animals failed to regain momentum.

Pork Exports

Exports from Vietnam

Pork exports from Vietnam expanded notably to X tons in 2022, increasing by X% on the previous year. Over the period under review, exports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, pork exports soared to $X in 2022. In general, exports, however, saw a slight decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) was the main destination for pork exports from Vietnam, with a X% share of total exports. Moreover, pork exports to Hong Kong SAR exceeded the volume sent to the second major destination, Thailand (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Lao People's Democratic Republic (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for pork exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Lao People's Democratic Republic (X% per year).

Export Prices by Country

In 2022, the average pork export price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Pork Imports

Imports into Vietnam

After four years of growth, supplies from abroad of pork decreased by X% to X tons in 2022. In general, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced dramatically in the following year.

In value terms, pork imports shrank dramatically to $X in 2022. Overall, imports, however, posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

Brazil (X tons), Russia (X tons) and Germany (X tons) were the main suppliers of pork imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pork suppliers to Vietnam were Brazil ($X), Russia ($X) and Germany ($X), with a combined X% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average pork import price amounted to $X per ton, flattening at the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Russia ($X per ton) and Brazil ($X per ton), while the price for Italy ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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