Tet approaches, food prices rise

The prices of many traditional goods have risen in major cities as the Tet shopping season is coming.

At Ho Chi Minh City’s Ben Thanh Market, the prices of processed and dried foods like “gio cha” (pork paste), “gio thu” (pig’s head paste), dried shrimp and cuttlefish, lotus seed, cashew nut, and chestnut have all soared.

In the run-up to the lunar New Year dried shrimp has increased by VND100,000-150,000 per kilograme from last month to VND350,000-500,000, pork, cu kieu (pickled scallion heads), vegetables and fruits have also gone up in price.

Confectionery and processed-food prices have risen by at least 10 percent since last month, according to the city Market Management Department. In Hanoi, the prices of “nam huong” (thin-top mushroom), “moc nhi” (cat’s ear), “mang kho” (dried bamboo shoot), and green peas have all rocketed at major markets.

Thin-top mushrooms, for instance, are now VND300,000 per kilo compared to VND250,000 earlier.

The prices of alcoholic beverage have also risen in HCM City. Retailers in District 8 and Tan Phu say that beer prices are up by VND10,000-20,000 for a box of 24 cans.

Shopkeepers in traditional markets and retailers blame the price hikes on a sudden surge in demand and speculation by wholesalers.

But in HCM City’s supermarkets, prices are stable or just marginally higher, thanks to the city’s price stabilization programme. The supermarkets announce that they have stocked enough inventories to meet the Tet festival demand.

Tags: Vietnam food prices, Vietnam Tet 2010