Price index expected to fall further in November

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Hanoi Times English - 36 month(s) ago 3 readings

The Hanoitimes - There will be no big fluctuations in market prices in November and the consumer price index (CPI) is predicted to increase by o­nly 0.2-0.3 percent against October, according to market experts.

The Hanoitimes - There will be no big fluctuations in market prices in November and the consumer price index (CPI) is predicted to increase by o­nly 0.2-0.3 percent against October, according to market experts.

Market analysts have made this forecast despite high consumer demand for a number of commodities at the year’s end, and potential widespread epidemics ò bird flu and blue ear pig disease.

However, large stockpiles of commodities will ensure an adequate market supply in the coming months, nipping any price manipulation in the bud, said analysts from the Domestic Market Management Group.

Local rice prices are expected to rise slightly due to the usual high demand in the lead up to the traditional Lunar New Year holiday (Tet) as well as the positive signs for rice exports. Prices of fresh food will remain unchanged, except for vegetables which have suffered due to recent harsh weather.

There will be no increase in sugar prices as 30 mills are scheduled to be put into operation in November to churn out 120,000 tonnes of sugar. This new output along with the stockpiled volume will meet business demands of confectionary and jam production for the holiday season.

Imported milk prices are expected to go up slightly due to fluctuations in the foreign exchange rate.

The livestock feed market will remain stable while pork and chicken prices are dropping significantly. Fertilizer prices are likely to increase slightly as farmers are preparing for the winter-spring crops.

Unlike in previous years, steel consumption is falling considerably due to stagnation in the real estate market and high ending interest rates.

KTD

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