Prices rising at traditional markets and decreasing at supermarkets

With Tet almost upon us and shopping reaching fever pitch two clear patterns are being seen – traditional market prices are going up, as supermarket prices go down.

Prices of processed food, on January 25, increased by 10,000-50,000 dong at traditional markets, although it was not the highest peak of the Tet sale season.

Pork pies, for example, a traditional favorite food for Tet parties, have seen prices up by 10-20,000 dong per kilo since the start of 2010. Meanwhile, prices of dried food, such as dried shrimp, cuttlefish and fish, have increased by 30,000-50,000 per kilo.

According to the HCM City Market Control Sub-department, prices of confectionary products and processed foods have increased by 10 percent at least over the beginning of the month.

The price of fish and shrimp at traditional markets in HCM City have also increased by 2,000-10,000 dong per kilo, while cuttlefish has seen sharper price increases of 30,000-40,000 dong per kilo to 100,000-140,000 dong per kilo.

At Thu Duc wholesale market, the price of vegetables and fruits has begun increasing slightly which have been explained by fuel price increases.

Meanwhile, unlike traditional markets, supermarkets are launching big sale promotion programs, offering attractive price discounts on hundreds of product items.

From January 23-31, Co-op Mart is offering between 5 and 50 percent price discounts on 1,500 food, garment, cosmetics products.

Big C supermarket chain has also announced price discounts of between 4-50 percent on 2,000 product items from January 20 to February 13.

The price reductions of 5-20 percent have been announced by Maximark and Citimarts.

According to Quach To Dung, deputy director of the HCM City Department of Industry and Trade, the distributors, who join the city initiated program on stabilizing prices during Tet sale season, have committed that they have sufficient allowing them to stabilize prices.

The retailers, in all cases, will have to sell products at prices registered with HCM City Department of Industry and Trade. Chicken will be sold at no more than 90,000 dong per kilo, while sugar will be between 17,400-18,000 dong, and rice at 8,000-11,500 dong per kilo.

Two companies, Vissan and Ba Huan have been denounced for  raising sale prices despite joining the price stabilization programme and receiving preferential loans to fulfill the task.

Explaining this, Vissan claimed it raised sale prices before the program began (January 15 – March 15), because prior to that, it slashed sale prices on a series of products in a promotion program.

Ba Huan Company also gave the same explanation.

The HCM City People’s Committee has requested district’s authorities keep a close watch over market price performance, stressing that chairmen of districts will have to take responsibility for any violations in pricing in the market.

VietNamNet/LD

Tags: Vietnam retail market