monthly report of vietnam's cattle and beef market (April 2024)

Vietnamese version

The total export value of Vietnam's livestock products in March 2024 reached $16.9 million, up 72% compared to the previous month and up 11% compared to the same period in 2023.

In March 2024, the meat of swine (HS 0203); other prepared or preserved meat, meat offal or blood (HS 1602); and live bovine animals (HS 0102) were the main livestock products exported from Vietnam, with values of $5.08 million, $4.3 million, and $3.3 million respectively.
Most of the meat products exported this month increased compared to the previous month, except for fresh, chilled, or frozen sheep or goat meat, which decreased by 22%, and sausages, similar products made from meat, etc. (HS 1601) which decreased by 14%. 

In March 2024, Hong Kong and ASEAN were the two largest export markets, accounting for values of $5.7 million and $3.9 million respectively. Exports to most markets this month increased compared to the previous month, with exports to ASEAN increasing by 296%, Japan by 78%, China by 66%, and Australia by 49% although exports to Hongkong saw a dip by 12%. 

In March 2024, 100% of live cattle were exported to Laos. Hong Kong was the primary export market for fresh, chilled, or frozen pork, accounting for 98.7%. Meat and meat offal, processed or preserved after slaughter or butchering, were mainly exported to Japan, accounting for 73.2% of the total export value, and 15.3% were exported to Hong Kong. Other meat and edible meat offal from other animals were predominantly exported to Belgium and the United States, accounting for 55.8% and 13.4%, respectively.

The total import value of livestock products of Vietnam in March 2024 reached $154 million, up 43% compared to the previous month and up 12% compared to the same period in 2023.

In March 2024, the top three imported livestock products in Vietnam were frozen meat of bovine animals (HS 0202), fresh, chilled, or frozen meat and edible offal of poultry (HS 0207), and fresh, chilled, or frozen meat and edible offal of swine, cattle, sheep, goats, horses, asses, mules, or hinnies (HS 0206). Import values of frozen meat of bovine animals were $72.3 million, a 44% rise from the previous month. Live bovine animal imports amounted to $9.15 million, marking an 18% decrease from February 2024. Additionally, the import value of fresh or chilled buffalo and cattle meat (HS 0201) stood at $2.02 million, reflecting a 50% increase from the previous month.

In March 2024, India, the EU, and Australia were the three largest suppliers of livestock products to Vietnam, with import values of $58 million, $24 million, and $17 million respectively. Compared to the same period in 2023, imports from India increased by 9%, imports from the EU increased by 76%, and imports from Australia increased by 53%.

In March 2024, the majority (69.1%) of live bovine animals were sourced from Australia, with the remaining 30.9% originating from Thailand. Australia was also the leading supplier of fresh or chilled bovine meat, accounting for 77.4% of imports. Meanwhile, India was the primary supplier of frozen buffalo and cattle meat, representing 75.2% of the total imports.

​In March 2024, Vietnam imported $16.7 million worth of livestock products from Australia, up 15% from the previous month and 53% from the same period last year. Live bovine animals and frozen bovine meat, valued at $6.3 million and $6.7 million respectively, were the top imports.

​In March 2024, Vietnam's imports of beef and livestock from Australia reached $15.9 million, rising by 21% compared to the previous month and 56% compared to March 2023.

In comparison to the same period previous year, the majority of Vietnam's major imports of live bovine animals from Australia increased during this time. Imports of live bovine animals totaled $6.3 million among them, a 78% rise from March 2023. This is followed by import of frozen boneless meat of bovine animals with a $6.5 million value increase (up 89%).

• In March 2024, most of the frozen beef products imported from Australia to Vietnam saw increases compared to the previous month. However, live bovine animal imports from Australia decreased by 15% compared to the previous month.
• The prices of most beef products imported from Australia to Vietnam in March 2024 remained relatively stable compared to the previous month. Prices for live bovine animals experienced slight decrease.
• The top 5 importing companies of beef and livestock products from Australia, based on value, accounted for 37.7% of the total volume of beef products imported from Australia in March 2024.

In week 16 (Apr 22-26), the average price of beef thigh remains unchanged since week 14, staying at 202.6 thousand VND/kg. Also in the same week, the price of beef sirloin was 225.6 thousand VND/kg, experiencing a slight increase of 0.1% compared to week 15.

In week 16, the average price of live-weight cattle is at 82.5 thousand VND/kg, marking a 0.2% increase compared to the previous month. According to local traders, in week 16, the price range of live-weight BBB cattle in the Northern region is between 74-79 thousand VND/kg, while in the Southern region, it ranges from 74-75 thousand VND/kg. Additionally, the price of Charolais cattle in the Southern region is significantly higher than in the Northern region.

In week 16, the number of livestock at feedlots remained stable, ranging from a minimum of 100 animals to a maximum of 8,000 animals. Meanwhile, at abattoirs, the average daily slaughter ranged from a minimum of 5 animals to a maximum of 30 animals.
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• In week 16, the prices of Australian cattle at abattoirs fluctuated between 73-79 thousand VND/kg, while the prices of Brahman crossbred cattle ranged between 60-75 thousand VND/kg, and BBB cattle are priced between 73-84 thousand VND/kg.
• For traders, the price range of Australian cattle in week 16 is from 73-75 thousand VND/kg, Thai Brahman cattle range from 70-75 thousand VND/kg, and BBB cattle were priced between 74-79 thousand VND/kg.
• At feedlots, Australian cattle prices in week 16 ranged from 72-74 thousand VND/kg, while BBB cattle were priced from 73-79 thousand VND/kg.

At abattoirs, in week 16, the lowest price for BBB beef in the Northern region was 168 thousand VND/kg, and the highest price in the same region was 190 thousand VND/kg. The lowest price for local beef in the Northern region was 168 thousand VND/kg, while the highest price in the Central Highlands region was 185 thousand VND/kg.

• In week 16, the price of Cambodian cattle in the bordering areas ranged between 45-50 thousand VND/kg for animals weighing approximately 230 kg. For animals weighing around 350 kg, the price ranged from 52-53 thousand VND/kg.
• Also, during the week, for slaughtered cattle weighing between 450-500 kg, the price fluctuated between 56-58 thousand VND/kg, and for those weighing between 600-700 kg, the price ranged from 62-64 thousand VND/kg.

In week 17 (April 29 - May 3), the prices of Vietnamese beef and Australian beef have remained stable at most supermarkets since the beginning of April 2024 except the price of Beef sirloin Hokubee at Bach Hoa Xanh. 

For Vietnamese beef, the lowest price for beef fillet was at Winmart supermarket at 358 thousand VND/kg, and the lowest price for beef shank was 376 thousand VND/kg at Co.op mart.

As for Australian beef, the lowest price for beef shank was at Homefarm at 230 thousand VND/kg, and the lowest price for Shoulder clod was 334 thousand VND/kg at Go mart. The price of Hokubee beef sirloin has increased at Bach Hoa Xanh supermarket to 828 thousand VND/kg.