Demand for top meat drives funding 10:00 | 05/02/2021
In the midst of the rising demand for quality pork, Vietnam has witnessed growing investment in the clean meat market.
Those involved in meat retail employ various strategies depending on location, trade type, and more, photo: Le Toan
Last week, AVG Capital Partners, a private equity fund from Russia, signed an MoU with Thanh Hoa Peopleâs Committee to develop a $1.4 billion pork processing complex in Nghi Son Economic Zone.
With an area of 1,000 hectares, the complex has a designed capacity to produce five million hogs a year. It will boast 43 commercial pig farms and three hybrid pig farms, a mixed feed factory with a capacity of two million tonnes a year, as well as a slaughterhouse and processing plant with a capacity of 600,000 tonnes a year.
Imports impeding chicken production
Imports impeding chicken production
Nguyen Thanh Son, chairman of the Vietnam Poultry Association, told VIR he has received numerous phone calls in recent weeks from livestock company representatives and members of the association, complaining about not being able to sell chickens even as the Lunar New Year approaches.
âThe companies say that at this time last year sales were good, but this time around numerous traders are buying cheap imported chicken, even as local producers are offering prices below their break-even point,â Son said.
Neither businesses nor households earn enough profit with these prices, he added, while production expenditure has increased, including feed, vaccines, and labour costs. âThey are turning to the association to propose that the government can issue policies to regulate supply and mitigate the damage for domestic production,â Son said.