URBAN CONSUMER PREFERENCES FOR SAFE PORK PRODUCT IN SOCTRANG

Abstract

This study employed a dichotomous choice contingent valuation model to analyze consumer's demand for proposed safe pork. The data was collected by direct interview of 125 households in Soc Trang province. The result revealed that the majority of consumers (over 56%) were interested in safe pork products and willing to pay an average price premium of about 160,000 VND per kg for safe pork. The results of Logit function showed that per capita income, the price of consumed pork, and the ratio of dependents positively affected the willingness to pay for safe pork, while the price of safe pork and per week volume of pork had negative impacts on the willingness to pay for safe pork.

Keywords: Contingent valuation method, Consumer preferences, Willingness to pay.