Food prices jump as Tet draws near

Just a few days before Tet, food prices are starting to rocket meaning that consumers will be hit in the pocket as the Year of the Tiger approaches.

HCM City: No shortage of food but still the prices rise

Retailers forecast that the pork price would stabilize this Tet thanks to a 20-30 percent supply increase.

The pork wholesale price remains unchanged at big markets like Binh Dien or Tan Xuan. Tran Van Hat, director of CP Vietnam Livestock Company said that farms are still setting the same pork prices at between 33,000-36,000 dong per kilo, or several thousand dong lower than the same period in 2009.

Pham Van Minh, director of Phu An Sinh Company also said that chicken supply in the city is 20-30 percent higher than previous years, forecasting that the market price would have no fluctuation.

However, in fact, the meat retail price has increased sharply. The pork price has risen by 1,000 dong per kilo, chicken 5,000 dong to 120-130,000 dong per kilo.

At Ba Chieu Market, the price of vegetables has also increased by several thousand dong per kilo

Two companies which joined the programme on stabilizing the Tet market , Vinh Thanh Dat and Ba Huan both confirmed they would have enough eggs to provide to the market at stable prices. Pham Thi Huan, director of Ba Huan Company meanwhile confirmed that her company would keep the retail price at 2,500 dong per duck egg and 1,550 dong chicken egg.

Companies which joined the program to stabilize Tet prices could get preferential loans to store goods but they had to commit to keep the prices stable at Tet, even when market prices fluctuate.

However, in reality, duck eggs are selling at 3,000 dong, and chicken eggs 1,800 dong. Retailers at traditional markets have warned that the egg prices would increase further due to the high demand.

Hanoi: seafood prices escalating

Despite the warm weather and profuse supply, the price of vegetables keep rising. The owner of the vegetable kiosk at Hang Da Market Pham THi An said that the price has increased by 2,000-5,000 dong per kilo on average.

“The prices may rise further in some days, when office workers stay off work and focus on Tet shopping,” An said

At Hom-Duc Vien Market, one of the biggest retail markets in Hanoi, seafood prices have been skyrocketing. Hang, a seafood saleswoman at the market said prices have jumped by 100,000 dong per kilo just within the last few days. She has warned that the prices will go further in some days, since many farmers have become off or work to prepare for Tet

However the price increases are not making retailers happy. Hang, a retailer at Hang Da Makret said the orange price has increased by two or three fold after just two days to 80,000 dong per kilo, pomelo is now selling at 85,000 dong.

“The price is too high. Sales are going slowly,” Hang complained.

Other products popularly used in Tet parties such as drinks and confectionary, have also seen sharp price increases. Meanwhile, producers have blamed this on the higher sugar price. Especially, the sugar price in Mekong Delta which has increased mostly sharply by 25 percent.

VietNamNet/NLD

Tags: Vietnam food prices, Vietnam Tet 2010