VIET NAM’S BEEF MARKET MONTHLY REPORT (September 2023)

Vietnamese version

Vietnam's total export value of livestock products in August 2023 reached 19.8 million USD, an increase of 41.6% over the previous month and 62.7% over the same period in 2022. 

​​In August 2023, live bovine animals; meat of swine, fresh, chilled or frozen; other meat and edible meat offal, fresh, chilled or frozen; and other prepared or preserved meat, meat offal or blood were Vietnam's main export livestock products with value of 5.03 million USD, 4.77 million USD, 3.8 million USD, and 3.4 million USD, respectively.

Hong Kong and ASEAN nations were the two largest export markets, accounting for export values of USD 46.0 million and USD 28.2 million during the first 8 months (Jan-Aug) of 2023. Exports to Australia hold a share of only 0.1% of the total exports of livestock products from Vietnam.

Live bovine animals constitutes one of the major export items in the month of August. Laos  and Cambodia were the major markets of live bovine exports with a share of 39.4% and 60.6%, respectively.

Vietnam's total import value of livestock products in August 2023 reached 168 million USD, up 9.9% over the previous month and down 0.2% over the same period in 2022. 

In August 2023, frozen meat of bovine animals valued at USD 55.4 million and live bovine animals valued at USD 27 million were among the top 3 imports of livestock products. 

India and Australia were the two largest market for imports to Vietnam, accounting for import values of USD 300 million and USD 189 million during the 8 months of this year (Jan-Aug 2023). It indicates a fall of 12% for India in 2023 compared to the same period of first 8 months in 2022 and a rise of 25% for Australia for the same period. 

Live bovine animals and meat of bovine animals, both fresh or chilled and frozen, constitute the major import items in the month of August.  Australia was the main source of live bovine animals. For meat of bovine animals, Australia was the main source for fresh or chilled meat (83%) and India for frozen meat (74.1%).

In August 2023, Vietnam's imports of livestock products from Australia reached 40 million USD, indicating an increase by around a third as compared to the import values in the previous month (July).  Of which, live bovine animals, fresh or chilled meat of bovine animals, and frozen bovine meat were the most imported products, with import values of USD 18.5 million, 1.3 million and 6.7 million, respectively. 

In August 2023, Vietnam's beef and cattle import value from Australia reached $38.9 million, marking a 32.4% increase compared to August 2022. Over the first 8 months of 2023, live bovine animals (cattle - not for breeding) was the most imported product, with a total import value of $116 million, representing a year-on-year increase of 63%. However, other products such as the meat of bovine animals, frozen; and fresh/chilled/frozen edible offal of bovine animals, swine, etc., experienced a decrease in import values. 

In August, most live cattle and beef products imported from Australia saw significant growth compared to July. Products that recorded strong growth included live cattle (up 46%), frozen boneless meat (up 20%), and fresh/chilled boneless meat (up 34%), etc.
The average import prices of live cattle and frozen boneless bovine meat increased in August compared to the previous month (July) in 2023. Prices of other meat of bovine animals decreased in August compared to July 2023.
The top 2 importing companies imported a little over half of all cattle and beef products from Australia in August 2023. 

In week 38, the price of beef thigh dropped to 260 thousand VND/kg, down 7% compared to week 37. Meanwhile, beef fillet increased slightly by 2% compared to week 37 at 255 thousand VND/kg.

In week 38, the average price of live weight cattle was at 84 thousand VND/kg, up 1% compared to week 37.

In terms of the current number of cattle handled in the facilities (feedlot or abattoir), the smallest feedlot had 100 heads of cattle whereas the biggest had 8000 animals in their feedlot. Similarly, the smallest abattoir slaughtered 7 animals in a day whereas the biggest slaughtered 30 animals in a day.

• The range of purchase prices remained unchanged for Abattoirs between Week 36 and Week 38, regardless of the beef breed. However, the prices in the Northern market increased by 1 - 2 thousand VND/kg compared to 2 weeks ago while the Southern market remained unchanged.
• Price range at feedlots saw a slight decrease in the minimum prices with prices starting at 76,000 VND/kg and 75,000 VND/kg for Australian and BBB cattle respectively in Week 38 as compared to 77,000 VND/kg and 75,000 VND/kg in Week 36.
• For the traders, prices of Thai Brahman and Myanmar cattle dropped in Week 38 compared to Week 36. While local cattle saw an increase in minimum prices from 72,000 VND/kg to 75,000 NVD/kg in Week 38, the maximum prices dropped from 90,000 VND/kg to 83,000 VND/kg. The minimum price of buffalo decreased from 57,000 VND/kg in Week 36 to 54,000 VND/kg in Week 38. However, the maximum price of buffalo slightly increased from 65,000 VND/kg in Week 36 to 67,000 VND/kg in Week 38. 

The available selling prices of hot beef remained unchanged between Week 36 and Week 38. 

Prices of Cambodian cattle in Week 38 at the region bordering Cambodia ranged between 48,000 to 50,000 VND/kg for animal weighing around 230 kgs and 58,000 to 60,000 VND/kg for animals weighing around 350 kgs. Slaughter cattle fetched between 66,000 to 67,000 VND/kg for animals weighing around 450-500 kgs while animals weighing between 600-700 kgs fetched around 68,000 to 70,000 VND/kg. ​

In week 39, the price of ​​Vietnamese beef cuts at supermarkets remained unchanged compared to the previous week, except for Winmart supermarket, which reported a decrease in beef fillet prices.

In week 39, prices of Australian beef remained relatively steady compared to the previous week, with the exception of beef shank and shoulder clod, which experienced price hikes at Go supermarket, and a decrease in prices for beef sirloin Hokubee at Homefarm supermarket.