African swine flu

The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors. Illustrative photo In a supplement to its Asian Development Outlook 2019 Update released in September, ADB now expects gross domestic product (GDP) in the region to expand 5.2% in both 2019 and 2020, down from the September forecast of 5.4% growth this year and 5.5% next year. “While growth rates are still solid in developing Asia, persistent trade tensions have taken a toll on the region and are still the biggest risk to the longer-term economic outlook. Domestic investment is also weakening in many countries, as business sentiment has declined,” said ADB Chief Economist Mr. Yasuyuki Sawada. “Inflation, on the other hand, is ticking up on the back of higher food prices, as African swine fever has raised pork prices … [Read more...] about ADB trims growth forecasts as Asia’s biggest economies slow

The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors. While growth rates are still solid in developing Asia, persistent trade tensions have taken a toll on the region and are still the biggest risk to the longer-term economic outlook. Domestic investment is also weakening in many countries, as business sentiment has declined,” said ADB Chief Economist Mr. Yasuyuki Sawada. “Inflation, on the other hand, is ticking up on the back of higher food prices, as African swine fever has raised pork prices significantly.” In East Asia, growth in the PRC is now expected at 6.1 percent this year and 5.8 percent next year due to trade tensions and a slowdown in global activity coupled with weaker domestic demand, with family wallets being hit by pork prices that have doubled relative to a year … [Read more...] about ADB adjusts Vietnam’s growth to 6.8 percent by 2020

Other News Live pig prices surge on dwindling supply The Saigon Times Daily Wednesday,  Dec 11, 2019,15:32 (GMT+7) Live pig prices surge on dwindling supplyThe Saigon Times Daily A farmer feeds her pig herd. The price of live pigs is rising steeply on the local market - PHOTO: NHAN TAM HCMC – The price of live pigs is rising steeply on the local market, with multiple localities seeing prices surge to VND87,000 per kilogram, or twice the normal price, the local media reported. In the northern market, the prices of live pigs range from VND86,000 to VND87,000 per kilogram in Thai Binh, Lang Son, Hung Yen and Ha Nam provinces, while Lao Cai, Vinh Phuc and Thai Nguyen are seeing live pigs sell for VND84,000-VND85,000 per kilogram. Live pigs in some other provinces and Hanoi City are being sold at a lower price, reaching some VND80,000 per kilogram. The southern region has also faced a hike in live pig prices. Many … [Read more...] about Live pig prices surge on dwindling supply

Masan MeatLife officially debuted on the securities market on December 9 The day officially saw 323.3 million MML stocks worth VND26 trillion ($1.13 billion) launched on the UpCoM at VND80,000 ($3.48) per stock. However, after the first session, the stock fell by 12.6 per cent or VND10,000 ($0.43) in price, hence MML's market capitalisation shrank by nearly VND3.3 trillion ($143.48 million) to $976 million. Two years ago, VN Consumer Meat II Pte., Ltd. purchased 7.5 per cent of Masan MeatLife for $150 million. The stock price at the time was VND210,000 ($9.13), equalling $2 billion in capitalisation. At the time of launching on the securities market, the company gave wind to ambitions of conquering the local meat market the way Vinamilk has been dominating the milk segment. Masan MeatLife currently has 10 factories with the annual capacity of 3 million tonnes. Moreover, the Masan subsidiary also developed a distribution system of more than 4,500 dealers across the country. According … [Read more...] about Masan MeatLife loses more than $140 million of market value

Vietnam Economy ADB raises Vietnam’s growth forecast to 6.9% this year By Trang Nguyen Wednesday,  Dec 11, 2019,19:45 (GMT+7) ADB raises Vietnam’s growth forecast to 6.9% this yearBy Trang Nguyen Employees are seen working at a local firm. Vietnam’s GDP growth in the first three quarters of 2019 accelerated to 7%, the highest rate for the period in nine years – PHOTO: DAO LOAN HCMC – While trimming its forecasts for economic growth in developing Asia this year and next given the slower growth in China and India, the Asian Development Bank (ADB) has raised Vietnam’s growth forecast to 6.9% for 2019 and 6.8% for 2020. In a supplement to its Asian Development Outlook 2019 Update released in September, ADB expects gross domestic product (GDP) in the region to expand 5.2% in both 2019 and 2020, down from the September forecast of 5.4% growth this year and 5.5% next year. In Vietnam, GDP … [Read more...] about ADB raises Vietnam’s growth forecast to 6.9% this year