Food prices up, but farmers continue to suffer

Created 06 June 2022
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The prices of meat, poultry and eggs are rising on the back of increasing production costs, but farmers are still suffering losses, local reports say.

Customers shop at a supermarket in HCM City. The prices of meat, poultry and eggs have increased as production costs rise. — VNA/VNS Photo

HCM CITY — The prices of meat, poultry and eggs are rising on the back of increasing production costs, but farmers are still suffering losses, local reports say.

The price of pork is currently VNĐ55,000 to 57,000 per kg, an increase of VNĐ5,000 compared to the beginning of the year; and that of chicken has gone up by VNĐ4,000 to 5,000 to around VNĐ33,000 per kg.

Egg prices have also increased sharply, retailing at VNĐ3,500 to 3,800 for chicken eggs and VNĐ4,000 for duck eggs.

Farmers, however, are still suffering losses because of the high prices of packaging, fuel and other inputs.

On June 1, domestic gasoline prices jumped to an eight-year high. The price of RON92 gasoline increased to VNĐ30,235 from VNĐ29,639 per litre, and that of RON95 gasoline increased to VNĐ31,578 from VNĐ30,653 per litre.

Food producers say that the rising prices of ingredients and transportation have forced them to hike their prices as well.

Phạm Thị Huân, chairwoman of poultry products supplier Ba Huân JSC, said her company’s egg products were part of the city’s price stabilisation programme, but rising costs were creating great pressure.

Trương Chí Thiện, CEO of food company Vĩnh Thành Đạt, said that the company’s suppliers have hiked prices by 10-20 per cent for packaging and animal feed, which means it is selling eggs at a loss.

Saigon Food JSC has elevated the prices of most of its processed food items by around 15 per cent.

Phan Văn Dũng, deputy general director of Vissan, Việt Nam’s leading food processor, shared that consumers’ purchase of fresh food items in the first four months of this year dropped by 25 per cent.

He also said that after experiencing sustained losses, the company has been forced to push up the price of its sausages, canned goods and cold products by five to 15 per cent.

Dũng also warned that the price of animal feed has spiked significantly, creating difficulties for pig breeders.

“The government should take measures to keep feed prices in check, otherwise the supply of pigs may plunge over the next few months, raising pork prices and making pork-based products more expensive.”

 

Source: VNN