More than a month until Lunar New Year, but prices of some items have started to increase, such as green vegetables, baking ingredients, fruits... According to forecasts, during this year's Tet holiday, the price of live pigs will increase by 10-15% compared to normal days.
More goods, higher prices
Survey of PV Vanguard shows that essential food items that people and businesses prepare for the Lunar New Year are relatively abundant.
The quantity of goods in supermarkets and traditional markets is quite abundant. However, due to unfavorable weather this year, the supply of food, both domestic and imported, has been affected. More than a month to Tet, but the prices of some items have shown signs of increasing.
A survey at traditional markets in Hanoi showed that compared to last month, the price of green vegetables increased by 10-20%, and baking ingredients (wheat flour, cooking oil...) increased by 5-10%; Prices of pork, chicken, fish and seafood are also on the rise.
Mr. Nguyen Ngoc Son - Permanent Vice President of the Vietnam Animal Husbandry Association - said that during Tet this year, the price of live pigs will increase by 10-15% compared to normal meat prices.
Ms. Do Men - a fruit seller in Hanoi - said: "Some types of fruit have started to increase in price, and the closer to Tet, the higher the price. Over the years, I have seen that oranges and grapefruits are the items that increase the most in price and are bought the most during Tet because these fruits can be stored for a long time, making them suitable for giving as gifts. My customers often buy dozens of boxes of green-skinned grapefruits at once to give as Tet gifts. Currently, the price of grapefruits and oranges is at 50,000 - 55,000 VND/kg, but closer to Tet, these two items can increase in price by up to 20%".
Ms. Mai Hoa (in Cau Giay district, Hanoi) said that last month she bought a bottle of cooking oil for 175,000 VND/5 liter bottle, now it has jumped to 200,000 VND/bottle. Ms. Hoa shared: "Many items increased in price by only 5,000 - 7,000 VND, I bought them at the market without paying attention or remembering everything. But when I went to the supermarket with the receipt, the list of food and utensils, I compared and saw that many items had increased in price."
Currently, many businesses, supermarkets and retail systems have launched Tet gift boxes on the market. This year's Tet gift boxes focus on health care and environmentally friendly products with the main products being agricultural products and essential consumer goods.
According to Ms. Nguyen Thi Bich Van - Communications Director of Central Retail Vietnam (the owner of GO!, Big C, Tops Market supermarkets...), purchasing power has increased in recent days, focusing mainly on products that serve year-end needs such as beer, wine, soft drinks, cold cuts, fruits, Christmas decorations...
For the Lunar New Year 2025 alone, Central Retail representatives expect the supply for this year's Tet holiday to increase by about 10% compared to the same period last year, thereby fully meeting people's Tet shopping needs.
In the context of many products increasing in price at the end of the year, Central Retail representative said that they will apply a program of no price increase during Tet holiday, applicable to more than 10,000 fast-moving consumer goods products. However, this program does not apply to vegetables, fruits, fresh food, frozen food, beer, wine, milk and dairy products.
Recently, the Ministry of Industry and Trade issued a Directive on implementing solutions to ensure supply-demand balance and market stabilization at the end of 2024 and the Lunar New Year 2025. The Ministry of Finance requested agencies and units under the Ministry of Finance, The Department of Finance of provinces and cities, and relevant agencies shall implement synchronous measures to ensure price stability and prevent price fluctuations that affect socio-economic life during the Lunar New Year 2025.
The Price Management Department is assigned to coordinate with units within the Ministry of Finance and related ministries and sectors to grasp the situation of supply and demand, market prices, especially for items with a strong price increase trend. The units coordinate to strictly handle violations of the law, especially price manipulation and trade fraud.
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