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1 Dec 2023

Econ Digest

Why...the cost of raising pigs in Thailand is higher than in other countries?

  • The current cost of raising pigs in Thailand is likely to be over THB80-90 per kilogram, which is a huge increase from the pre-COVID-19 average of around THB63 per kilogram, and is considered higher than in many other pig-farming countries in the world, especially twice as high as in Brazil.

  • The cost of raising pigs has tended to rise, but the cost of raising pigs in Thailand is higher than in many countries in the world. (Unit: THB/kg)
  • If we break down the main costs of raising pigs, it is found that animal feed costs are the highest at about 65-70%, followed by other variable costs and labor costs. The cost details in each country will vary depending on the use of animal feed, the use of technology, energy use and farm size.
  • KResearch views that the cost of raising pigs in Thailand is likely to continue to increase in the future due to:
      • The cost of animal feed will remain high or increase. Thai operators who raise pigs or engage in the livestock business need to import about 50% of their animal feed because Thailand’s animal feed production is insufficient, and the prices of animal feed such as soybean meal, corn and wheat in the international market continue to fluctuate at high levels due to geopolitical issues and climate change.
      • The cost of breeding pigs that still need to be imported and the farm management costs to prevent diseases, especially African swine fever, make the operation of a new farm no longer as easy as it once was.
      • Labor costs tend to rise with minimum wage increases and labor shortages

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