Vietnam becomes destination for pork imports

The pork market has heated up again, with more imports, especially from the US.

The pork market has heated up again

The American Berkshire Association (ABA) and the US Meat Export Federation had a working session in Vietnam to promote consumption of American pork.

With 1.8 million tons of pork consumed in 2017, which accounted for 57 percent of total meat of different kinds, Vietnam is an important market for the US pig breeding industry. The country ranks second in Southeast Asia, just after the Philippines, in terms of import volume.

In 2017, the pork and pork-made imports from the US were worth $12 million, a sharp increase of 140 percent over the year before.

Poland, Spain and Germany have exported pork in Vietnam for a longer time than the US. European pork exporters years ago ran a media campaign to popularize their products overseas, and Vietnam was one of three key markets.

Poland, Spain and Germany have exported pork in Vietnam for a longer time than the US. European pork exporters years ago ran a media campaign to popularize their products overseas, and Vietnam was one of three key markets.

According to UPEMI (Union of Producers and Employers of the Meat Industry), meat exports from the EU to Vietnam grew by 7.5 times in the 2013-2015 period

GDC reported that Vietnam imported 33,100 tons of pork in 2017 and 19,600 tons in the first half of 2018. Poland was the biggest supplier, exporting over 7,000 tons, mostly frozen meat.

The Vietnamese meat market is valued at $18 billion and Vietnam is among the biggest pork consumers in the world. Vietnamese consume 33.5 kilograms of meat per person a year, while the figure is expected to rise to 39 kilograms by 2020.

The pork price in Vietnam has bounced back after a sharp fall because of oversupply. This has paved the way for pork to be imported to Vietnam in large quantities.

Analysts believe that more meat imports will come from the EU, when the Vietnam-EU FTA with removed tariffs is officially signed.

According to the US Breeders Association, the trade tensions between the US and China were not the reason behind the trade promotion mission. 

However, the import tariff China is imposing on US pork has soared from 12 percent to 62 percent, which has led to a sharp fall of US pork exports to China.

In December 2017, the US exported $663 million worth of pork to China, while the figure dropped to $381 million last July.

Meanwhile, meat imports from the US to Vietnam began rising when the US and China threatened to impose high taxes on each other’s goods.

Vietnam taxes 15 percent on US frozen meat imports.