Demand for essential goods to increase

Demand for 12 essential goods items is forecast to increase next year, including for steel, cement, oil products and coal.

Based on Viet Nam’s economic growth expectations from 2011-15, the Ministry of Industry and Trade estimated demand for steel products to increase 8-10 per cent to 12.5-12.8 million tonnes in 2011.

The demand for cement next year was predicted to go up by 10 per cent to 55-56 million tonnes while total output to reach 60 million, thus meeting demand and keep price stable.

Demand for petrol and oil productswas forecast to be 17 million tonnes next year, to be met by 6 million tonnes of domestic production and 11.6 million tonnes of imports.

The nation would balance the demand for 44 million tonnes of coal by producing 47.3 million tonnes, the ministry said.

Paper demand would increase to 2.35 million tonnes next year, to be met by 1.77 million produced locally and 700,000 tonnes from imported.

The nation’s consumption of 28 million tonnes of rice in next year would be supplied by the expected harvest of 31.6 million tonnes.

The demand on medicine, food and fertiliser was also expected to increase next year.

Meanwhile, Prime Minister Nguyen Tan Dung has called on ministries, agencies and municipal and provincial authorities to implement strategies to stabilise the market and boost production.

Directive No1875/CT-TTg, released last week was designed to ensure the country’s growth rate reaches 6.5 per cent, while the consumer price index did not rise above 8 per cent.

Dung said the economy, which typically suffers during the final months of the year, would also have to weather capital shortages, rises in the price of essential goods, power shortages and potential animal epidemics.-VNS

Tags: Vietnam prices