Prices remain stable for Tet

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VietStock FI English - 37 month(s) ago 2 readings 1 duplicate news

Prices of goods for the Tet (Lunar New Year) holiday have remained stable even though purchases have risen in recent days.

Of the total goods quantity stocked for Tet, 30 to 40 per cent are from companies that are participating in the city's programme to stabilise prices of essential goods.

Forty to 50 per cent are from the city's three wholesale markets and the remaining are from other companies, according to the Department of Industry and Trade.

Le Ngoc Dao, deputy director of the Department of Industry and Trade, said companies taking part in the price-stabilisation programme have completed their stocking of goods for Tet, valued at more than VND5.5 trillion.

Prices for these goods are 5-10 per cent lower than market prices, she said.

At the end of the third quarter of last year, several food companies began to prepare goods for Tet, including advancing money to farmers to raise pigs and poultry.

Vissan began preparing for Tet in August, and now has more than 40,000 pigs and 6,000 tonnes of processed food.

Van Duc Muoi, Vissan general director, said there would be no shortage of essential goods, and that prices would be stable through Tet.

Pham Thanh Hung, deputy director of Ba Huan Company, said the supply of eggs for Tet was secure, with his company producing 1.5 million eggs a day.

In case of higher demand, Ba Huan can increase its production to 2 million eggs a day, Hung said.

The quantity of essential goods that supermarkets and companies stock for Tet has risen 15-10 per cent against the same period last year, according to the city's Food and Foodstuff Association.

More than 90 per cent of stocked goods for Tet have been made in Viet Nam.

"This year the quantity of imported goods fell by more than half against previous years," Nguyen Thu Phuong, general director of the Nam Duong Import and Export Company, said. "Domestic companies have successfully set up their product brandname and markets, and imported goods have become more expensive."

In the city's three wholesale markets, the quantity of inbound goods has increased by 80-100 per cent in recent days.

Binh Dien wholesale market is receiving about 2,000 tonnes of vegetables, fruits, seafood and pork products a day.

Similarly, the quantity of inbound goods at Thu Duc wholesale market has increased by 100-200 tonnes a day.

However, the prices of several vegetables and fruits have begun to drop because of an abundant supply and low sales, according to market management boards.

The price of fresh food such as seafood is expected to rise only slightly in the next few days.

The city's Department of Finance said that prices had remained stable because of ample inventory of food companies.

Nguyen Quoc Chien, head of the department's Price Division, said the department had set up several inspection teams earlier this year to monitor prices.

The teams, in cooperation with departments and agencies, have checked prices and supply of companies taking part in the city's price-stabilisation programme of essential goods.

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