Bangkok: Pork prices are experiencing a significant decline due to shrinking purchasing power, a sluggish economy, and the disappearance of foreign workers. The Pig Farmers Association is taking action to address this issue by offering special pork prices, beginning today with a "2 kg for 100 baht" promotion. This initiative aims to alleviate the cycle of storing piglets in cold storage and limiting the weight of pigs for slaughter, with the hope of restoring market balance.
According to Thai News Agency, farm-gate prices for fattening pigs have been on a continuous decline for several months, currently ranging from 52-64 baht per kilogram. This situation is putting considerable pressure on pig farmers across the nation. Mr. Sittipan Thanakiatphinyo, President of the National Swine Raisers Association, has stated that the association is urgently implementing measures to stabilize the market. The falling pork prices are attributed to various factors, including the economic slowdown, declining consumer purchasing power, a contraction in the tourism and restaurant sectors, and the return of many Cambodian workers, which has led to decreased consumption. Prolonged rains have also dampened consumer spending. As a result, the pig supply has exceeded demand, causing farm-gate prices to fall below production costs and pushing many farmers towards financial losses.
In response, the association has introduced several measures, including the "2 kg. 100 baht pig" event to boost consumption, scheduled to be held nationwide on October 1st. Additional measures to reduce the number of pigs in the market include a project to cut the cycle of piglets, allowing 100,000 pigs to be immediately roasted to reduce supply over the next four months. The association is also seeking cooperation from four major pig breeding companies to store pigs in cold storage for six months, thereby reducing the amount of pork entering the market. Furthermore, a slaughter weight limit of no more than 110 kilograms per pig has been set to slow down the surplus of pork.
This initiative is a collaboration between the National Swine Raisers Association and Swine Raisers Associations from six regions, including Ratchaburi Province and Region 7, the Chonburi Swine Raisers Cooperative, the Northeastern Swine Raisers Association, the Upper Central Swine Raisers Association for Trade, the Northern Swine Raisers Association, and the Southern Swine Raisers Trade Association, with support from the Department of Internal Trade and the Department of Livestock Development.
Dr. Noppalith Sermsaksasithorn, Honorary President of the National Swine Raisers Association and an entrepreneur in Chonburi Province, which is the pilot area for the "2 kg. 100 baht" campaign, announced that the campaign will commence on September 23rd and 26th, with Ratchaburi and Chonburi provinces serving as pilot areas. The campaign will gradually expand to other areas and become a nationwide initiative on October 1st, with the goal of selling over 100,000 kilograms of accelerator-free pork across all regions simultaneously.
"Selling pork at special prices not only stimulates consumption, but also allows consumers to directly support farmers, further bolstering their livelihoods," stated Dr. Noppalith.
The association anticipates that if these measures are implemented as planned, they will immediately reduce the surplus of pigs in the market. Meanwhile, the special-price pork activities are expected to stimulate consumption and revitalize the market. All of these efforts aim to alleviate the current challenges and gradually restore balance to the pork market.