Monthly Market Report May 2024

In April 2024, Vietnam's export value of livestock products saw a significant decline, totaling 12.8 million USD, which is a 25% decrease compared to March 2024 and a 13% decrease compared to April 2023. The main exported products were other prepared or preserved meat, meat offal or blood (HS 1602), meat of swine fresh, chilled, or frozen (HS 0203), and other meat and edible meat offal fresh, chilled, or frozen (HS 0208). These exports amounted to 3.98 million USD, 2.8 million USD, and 2.71 million USD respectively. The export of frozen meat of bovine animals notably plummeted by 95% from the previous month, while there were no live cattle exports recorded. The primary markets for these exports were Hong Kong and Japan, with Hong Kong showing a 31% increase and the USA a 163% increase in imports from Vietnam.

Conversely, Vietnam's import value of livestock products in April 2024 was 155.6 million USD, reflecting a modest increase of 0.8% from March 2024 and a substantial 20% rise from April 2023. The top imported products were frozen meat of bovine animals (HS 0202), live bovine animals (HS 0102), and edible offal of bovine animals, swine, sheep, goats, horses, asses, mules, or hinnies fresh, chilled, or frozen (HS 0206), with values of 55.7 million USD, 31.2 million USD, and 24.6 million USD respectively. Imports from Australia were particularly significant, with live bovine animals and frozen bovine meat being the highest contributors. Despite the increase in import value, there were no notable fluctuations in the prices of various beef products.