BaF Vietnam saw expenses exceed revenue by VND6 billion for the first time since 2021, but thanks to selling some assets the company posted an overall profit of nearly VND7 billion.

Pigs raised in a farm of Hoa Phat Group.

Masan MeatLife posted a loss of VND170 billion during the last quarter of the year, and recorded a loss of VND230 billion for the entire year, the first loss since it started releasing financial figures in 2016.

Since the end of 2021 the company stopped producing animal feed and focused only on meat, which also contributed to its losses.

Hoang Anh Gia Lai recorded VND110 billion in profit from its pork sales in the last quarter, a 36% drop from the third quarter.

Hoa Phat Group’s agriculture and husbandry business was in the red with more than VND34 billion in losses in the last quarter.

For the whole year, the company saw this business posting a profit of VND22 billion, its lowest profit since 2016.

BaF said that pig diseases, disruptions in supply and rising input costs negatively impacted the company’s earnings. Dabaco added that the decline in consumer demand also contributed to the losses.

Pork prices in December dropped 15%-20% from October to VND50,000 per kilogram as supply exceeded demand.

Last year, pig supply rose 11% from 2021.

Analysts of brokerage VNDirect expect pork prices to rise 5% this year as demand recovers and input costs begin to stabilize globally.

However, SSI Research forecast that pork prices are set to rise 20% to VND60,000 per kilogram this year, with the reopening of China helping to pump up demand.

However, the strong U.S. dollar and the African swine fever will remain possible risks to the sector, they added.

Pig farmers face losses as prices plunge

Pig farmers in southern Vietnam are potentially facing huge losses after pork prices plummeted by 20% in the last two months.

Nicobar pigeons spotted in Con Dao National Park

The Nicobar pigeon, a species noted as globally endangered, has been spotted in Con Dao National Park in the southern province of Ba Ria-Vung Tau.

Major firms spend big on pig farming

Many big companies have been investing trillions of dong (VND1 trillion= $41.67 million) in raising pigs, with the Vietnamese pork market estimated at $15 billion.

Pig deaths after vaccination not because of vaccine quality: agriculture official

In June this year, Vietnam announced that it had successfully developed a vaccine to administer to pigs to fight African swine fever, with the aim of becoming the first country to commercially produce and export it.

HAGL profits up 25% on rising pig prices

Profits of agriculture company Hoang Anh Gia Lai (HAGL) surged 25% month-on-month to VND125 billion ($5.34 million) in July.

Source: VnExpress