TPO - The slight increase in the price of each item, from pork, cooking oil, sugar, milk, etc., makes housewives even more worried as Tet approaches. Meanwhile, small traders are also “restless” because the increase in prices will affect purchasing power.
TPO - The slight increase in the price of each item, from pork, cooking oil, sugar, milk, etc., makes housewives even more worried as Tet approaches. Meanwhile, small traders are also “restless” because the increase in prices will affect purchasing power.
Dizzy with pork prices
On the morning of January 2, at Ban Co market (District 3, Ho Chi Minh City), Ms. Vo Thi Nhi (35 years old) walked past several pork stalls but still could not choose to buy meat. “It has been almost a week since I bought meat again, but the rapid increase in prices has surprised me. Just last week, spare ribs were only about 150,000 VND/kg, now they have jumped to 190,000 VND/kg, and lean pork is more than 210,000 VND/kg... The prices are too high, so I plan to replace chicken and fish in my family's meals,” Ms. Nhi said.
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Pork prices have increased all week, by 10,000 - 20,000 VND/kg, making purchasing power even slower. |
Butchers are also worried because the price has increased, so meat is selling very slowly. Ms. Thuy, a butcher at Phu Lam market (District 6), is sad because it is noon but there is still a lot of meat on her stall. Ms. Thuy said that she used to take hundreds of kilos of meat every day, but now she has less than a third of it and still cannot sell it all. Only when customers order in advance, Ms. Thuy dares to take a lot. People prefer hot meat, so she only takes enough to sell for the day. If she cannot sell it all, she freezes it, and customers refuse to buy, causing a heavy loss. For the past week, meat prices have increased, so restaurants and rice shops have also bought in reduced quantities.
“Pork prices go up and down like… stocks, one day it’s one price, the next day it’s another. However, the closer we get to Tet, the more pork prices increase, and the more they increase depends on supply and demand and purchasing power. But the higher the price of pork, the more upset we become because people don’t buy it or buy less, and use other foods to replace pork,” Ms. Thuy said.
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The increase in pork prices has led to many processed meat products such as sweet and sour pickled pig ears, pork roll, Chinese sausage... all increasing in price during Tet. |
At Hoc Mon agricultural wholesale market - the main distributor of pork for Ho Chi Minh City, the price of live pigs fluctuates between 68,000 - 70,000 VND/kg, depending on the type. This has led to an increase in the price of pork by 10,000 - 20,000 VND/kg compared to half a month ago. This price is expected to increase further in the coming days.
As scheduled… price increase
Many other items such as rice, sugar, cooking oil, milk... have also been on the rise since the end of December 2024. Mr. Tri, the owner of a rice shop on An Duong Vuong Street (Binh Tan District), said that rice prices have increased slightly by about 1,000 - 2,000 VND/kg depending on the type, due to high customer demand near the end of the year, while transportation, labor, and gasoline costs have increased... Specifically, high-priced fragrant rice fluctuates at 21,000 - 23,000 VND/kg; Jasmine rice is 18,000 - 20,000 VND/kg; long-grain fragrant rice is 20,000 - 22,000 VND/kg...
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Tet fruit prices are also fluctuating. |
Buying a 5-liter can of cooking oil at a convenience store near her house, Ms. Binh (living in Thu Duc City) was startled when the price, which had previously been only 175,000 VND, now jumped to 210,000 VND; 1-liter unsweetened fresh milk before Tet had a promotional price of 32,000 VND/box, now increased by 35,000 VND/box; granulated sugar also increased in price... "Near Tet, almost all products have increased in price, even Tet fruits such as grapefruit, custard apple... have increased in price by about 5,000 VND/kg compared to a month ago. I am worried that the closer to Tet, the higher the price will be" - Ms. Binh said.
Ms. Tran Thi Trang, owner of a fruit warehouse at Thu Duc agricultural wholesale market, predicts that this year, the quantity of fruits displayed for Tet will decrease and the price will increase. The reason is that in 2024, extreme weather, prolonged heat and drought in the West have damaged many areas of green-skinned grapefruit. In Binh Duong, Dong Nai, Ben Tre provinces, grapefruit output has decreased by about 50% compared to the same period and grapefruit prices tend to increase. In the North, super typhoon No. 3 also caused a lot of damage to gardeners.
Short term trend?
Recently, the Ho Chi Minh City Department of Finance has agreed to increase the price of pork products in the market stabilization program by 3,000 - 6,000 VND/kg. According to the Department of Finance, due to the increased demand for pork at the end of the year while the supply of pigs of sufficient weight for slaughter is in short supply, leading to fluctuations in pork prices in the market in recent times.
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Pork is still abundant, making traders sad. |
After the price increase, pork products have new prices such as lean shoulder, thigh 166,000 VND/kg, pork chop 147,000 VND/kg, thigh 125,000 VND/kg, shoulder 144,000 VND/kg... This price is guaranteed to be 5 - 25% lower than the average price of similar products on the market, meeting the program's regulations.
Mr. Nguyen Kim Doan - Vice President of Dong Nai Livestock Association said that the high pork price is only a short-term trend. According to Mr. Doan, the price of live pigs may peak at 70,000 VND/kg at the peak before Tet, but will level off when processing demand decreases and new batches of pigs are released to the market.
On January 2, the Department of Industry and Trade of Ho Chi Minh City said that it had sent a document to departments, branches, sectors and businesses in the area regarding strengthening inspection, control, and ensuring the quality and origin of goods serving the 2025 Lunar New Year.
The Department of Industry and Trade has requested retail chains to increase their operating frequency in the days leading up to Tet and reopen from the second day of Tet, with some chains even operating throughout Tet. The supply of goods to stabilize the market is guaranteed to be continuous and stable so that people can shop with peace of mind.
The Department of Industry and Trade of Ho Chi Minh City recommends that people shop through promotional programs confirmed by the Department of Industry and Trade, launched by the Department of Industry and Trade and districts, Thu Duc City, deep discount programs of businesses to stabilize the market... to save money during Tet.
Source: https://tienphong.vn/gia-thuc-pham-nhay-mua-nguoi-mua-giat-minh-tieu-thuong-dung-ngoi-khong-yen-post1706133.tpo
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