Worry about "dancing" commodity prices
According to Ms. Nguyen Thi Thu (living in Khuong Trung ward, Thanh Xuan district, Hanoi), as the Lunar New Year approaches, many consumers like her are concerned about rising prices of goods, with the same product having different prices in different places.
"Taking advantage of the days before Tet, many small traders and businesses have raised the prices of goods by double or triple the usual price. The prices of goods at the end of the year usually increase gradually. My family of four has a budget of 4 people. If before, I only spent about 160,000 VND every day going to the market, now I have to increase by 30,000 - 40,000 VND to buy enough food for the day. On the occasion of Tet, I hope that the prices of goods will be stable, especially essential goods, so that consumers can shop with peace of mind," said Ms. Thu.
The increase in commodity prices not only affects consumers but also directly affects small traders and businesses in Hanoi.
Ms. Tran Thi Lien (a trader at Khuong Trung market, Thanh Xuan district) shared that because of concerns about rising commodity prices, at the end of December 2023, she had to spend about 30-40 million VND to import essential consumer goods such as spices, dried foods, etc. in advance to limit price fluctuations.
Mr. Khuc Tien Ha - Director of Operations of WinMart North - informed that in preparation for the 2024 Lunar New Year, the unit has also developed price programs, ensuring that there are always promotional programs and discounts of over 50% for consumers. Currently, the unit has worked with suppliers on goods sources to develop product strategies, especially essential products and seasonal products for Tet.
Efforts to stabilize commodity prices near Tet
According to the Hanoi Department of Industry and Trade, the total value of goods for the 2024 Giap Thin Lunar New Year in the city is estimated at about VND40,900 billion, an increase of 10% over the same period last year. In order to ensure the supply of goods during Tet, the Department of Industry and Trade has directed production enterprises to have plans to ensure supply and meet consumer demand.
Mr. Nguyen The Hiep - Deputy Director of Hanoi Department of Industry and Trade - commented that at the end of the year, the demand for purchasing goods increases, the issue of supply and demand, selling price and quality of goods are also of special concern and focus of the Department of Industry and Trade.
To best prepare for the 2024 Tet market, from the beginning of the year, the Hanoi Department of Industry and Trade advised the Hanoi People's Committee to issue and implement a plan to stabilize the market of essential goods for people in the area, especially during the 2024 Tet holiday (implementation period until the end of June 2024).
Up to now, the Hanoi Department of Industry and Trade has mobilized 27 production and business units of Hanoi and other provinces and cities to participate in supplying market stabilization products to more than 14,000 points of sale.
These enterprises have also developed plans to exploit goods to serve the 2024 Lunar New Year, increasing by an average of 7-25% depending on each item compared to the plan to serve the 2023 Lunar New Year. Along with that, the Department continues to proactively monitor information, market situation, and prices during the 2024 Lunar New Year.
Control items, do not let unreasonably increase prices
Plan No. 09 of the General Department of Market Management (Ministry of Industry and Trade) will strengthen market inspection and control, handle violations of trade laws, focus on inspecting and strictly handling organizations and individuals who take advantage of high consumer demand during Tet to unreasonably increase prices, causing market instability, especially for items consumed a lot during Tet 2024.
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