Ho Chi Minh City sees drastic drop in chicken imports
Analysts anticipate a rise in prices by fall when existing stock is depleted.
Streets in Vietnam's Ho Chi Minh City have been flooded with frozen chicken imports which are cheaper than the poultry available at the chicken stalls or the fresh chicken sold at supermarkets, according to VietNamNet Bridge.
Controls on imported chicken have been tightened by the government. The Director of region 4's animal health agency said that the volume of frozen meat arriving at HCM City ports has been decreasing sharply. Previously, 50-60 consignments of meat were quarantined for customs clearance. Now only one consignment leaves the ports per day.
During the first 20 days of August Vietnam imported 3,000 metric tons of poultry meat compared to 7,000 metric tons in July.
Importers are lowering prices further and some have begun cancelling orders. Analysts forecast meat prices to rise in October and November when the existing stock is sold.