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Meat prices to increase during Tet
Although the demand for meat this Tet season is expected to be lower than in previous years, their prices are likely to increase because of decreased supply, according to the Information Centre for Agriculture and Rural Development (AGROINFO).
A study conducted by Agroinfo in Hanoi and HCM City shows food consumption this Tet will increase by about 38.3 percent over daily consumption levels, lower than last year’s surge of 50 to 60 percent.
The study shows that demand for poultry meat and pork sausage will increase significantly during this period, by 52.35 percent and 45.59 percent respectively.
The demand for beef and pork will also considerably increase, by 45.39 percent and 45.30 percent respectively.
Despite the increase in demand, supply is likely to decrease in upcoming months.
In the first ten months of this year, pork prices continually decreased, while those of chicken and beef either remained stagnant or increased slightly.
This is because enterprises imported a large amount of meat taking advantage of low import tariffs.
Since the Government increased import tariffs on most meat and poultry products in October to protect the domestic breeding industry, the amount of imported meat has fallen sharply.
Agroinfo predicts that over the next months, meat supply will significantly reduce and can lead to shortages during the Tet days, pushing prices up.
The slow revival of the breeding industry after the difficulties it faced last year, including price hikes in animal feed and adverse weather, is another factor that could lead to insufficient supply and high prices of meat during this Tet season, according to Agroinfo.
vna
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