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Genesus, an independent producer of high health registered purebred swine has released its ‘Global Market Report’, on the current market trends in the southeast Asian swine industry
Looming pork shortage in Thailand
According to the report, the price of live pigs from the farm in Thailand has reached US$2.5 per kg, up from US$1.8 per kg in August. Genesus says that this is an indicator that signals a shortage of pork meat in the country.
The main reason for the price hike is a mass culling of sows and commercial pigs to prevent the spread of African Swine Fever (ASF). Genesis had earlier estimated that 30% of the sows were destroyed or shipped out to neighbouring countries, especially Myanmar. Effects of ASF on breeder operations and strict measures to control the spread gave limited the movement of healthy gits within the country with much of the country resorting to imports.
Genesus’s reports indicate that the Thai swine market will stabilise in about two years, requiring the offspring of the young herds to reach market weight. Genesus finds that ASF, in domesticated pigs, can also be controlled by maintaining effective biosecurity standards.
Locally produced meat ascends in the Phillippines
According to Genesus’s reports, the average price for market hogs is gradually increasing, despite massive import numbers. Hog prices bottomed out in the month of October with an average live weight price of US$2.76 per kg, now reaching US$3.16 per kg.
Genesus suggests that only some island groups in the south have experienced the effects of these steady prices allowing for profits in the light of increasing feed costs. Prices of feed raw materials like corn, wheat, soybean mail, coco oil and palm oil have all experienced an increase, driving costs up within the industry.
Recent data from National Meat Inspection Service (NMIS) show 77,330 mt of imported frozen pork in cold storage in the Philippines. This number was down from 82,068 mt as of October. Trends show consumer behaviour in the country favouring local pork against imported frozen meat. Intense marketing efforts by the local hog companies can be attributed to this recent trend. Food consumption is projected to rise as the country gradually opens up for business and eases travel restrictions, also complemented by reducing ASF cases in the provinces.
Diseases impact swine market in Vietnam
The average price of live pigs in the country is recorded at US$1.90 per kg according to Vietnambiz.
A representative of the Dong Nai Breeding Association said both ASF and Covid are still impacting businesses within the country. The association said that the pig farms have been reported to sell under-weight bigs at low prices of US$1.5-1.75 per kg, keeping the market prices in the low-end.
The total number of pigs in the country at the end of October 2021 decreased by 1.5% compared to the same period in 2020, according to Channuoi, Vietnam.
Reports from the General Department of Customs, Vietnam indicate in 10 months of 2021, the import turnover of animal feed and raw materials has reached nearly US$4.14bn, up 29% over the same period in 2020.
The Government of Vietnam has recently issued a decree, revising its MFN tariff rates for wheat, corn, and frozen pork. The tariff on wheat has been eliminated, while the corn tariff has been reduced from 5% to 2%. The tariff on frozen pork will reduce from 15% to 10% effective July 1st, 2022.
Other major markets in Asia
Meanwhile, according to the Genesus report, swine prices in China are recorded at US$2.68 per kg (liveweight) and in South Korea at US$5.13 per kg (carcass).