City committed to curbing Tet price rises

HCM City is deploying several solutions to keep consumer prices stable for the up-coming Lunar New Year.

Le Ngoc Dao, deputy director of the city’s Department of Industry and Trade, predicted that the commodity revenue in the city would increase by 30 per cent compared to other months and 15 per cent against last Lunar New Year.

“Supply is abundant this year. The food volume of 15 enterprises taking part in the price stabilisation programme makes up 30 to 40 per cent of the market share. So there will be no price hikes during Tet,” Dao said.

The department has asked the city’s Department of Transport to grant licenses to enterprises taking part in the programme to operate vehicles that sell food during peak hours.

Saigon Co.op Mart and SATRA Group have deployed more than 140 mobile food stalls in industrial parks and in out-lying districts for the rest of the month.

Tran Tan An, deputy general director of VISSAN, the largest meat processor in the country, said for this year’s Tet, the company decided to increase food production by 20 per cent against last year.

The company has worked with all super market chains in HCM City to create a common discount rate to help curb prices hike. A food company representative in the city said that thanks to thorough preparations this year by many enterprises, prices would not fluctuate to the extent they did in past years.

Last year’s price stabilisation programme made food prices in HCM City 10 per cent lower than in neighbouring provinces. As a result, traders from other provinces came to the city to buy goods.

This year, speculation will be managed well and there will be sufficient food supply in areas that have faced shortages in the past. As opposed to previous years, the city’s super market chains will resume work on the second day of the New Year to abate consumer concerns over supply shortages and price increases. — VNS

Tags: Tet prices