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9 May 2023

Agriculture

Farmgate prices of live pigs in 2023 may drop to THB 88-92 per kilogram, declining by 7.5-11.5 percent, putting pressure on pig farmers amid persistently high production costs (Current Issue No.3408 Full Ed.)

คะแนนเฉลี่ย

        Farmgate prices of live pigs in 2023 may drop to THB 88-92 per kilogram, declining by 7.5-11.5 percent compared to the high price of THB 99.5 per kilogram recorded for 2022. The decrease is mainly due to supply-side factors including rising imports from countries with high outputs, and increasing domestic production by some pig farmers following the easing of the African swine fever (ASF) outbreak compared to the previous year. A big challenge facing pig farmers is persistently high production costs, especially animal feed. In addition, costs of farm management to prevent the ASF outbreak and rising temperatures in the second half of the year could be risk factors affecting pig farming. Particularly, small-scale pig farmers are likely to be impacted more than larger ones.

        Over the next two years, pig prices are likely to remain high in line with persistently low domestic supply compared to normal circumstances with no ASF outbreak. Due to ASF, climate change and high manufacturing costs, domestic production may not be sufficient to meet increasing demand amid the economic recovery. In the short term, pork imports from standard markets may be necessary to alleviate supply shortages. However, this would put pressure on prices and make matters worse for local pig raisers. As a result, efficiency improvement throughout the production line is important. In particular, pig farmers should gain support to recover and return to the business to earn income in a sustainable manner. Plus, strict control measures to prevent recurrence of the ASF outbreak are necessary to mitigate potential loss to pig production, while avoiding risks to Thailand’s food security going forward.

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