New Year's Eve is coming and Lunar New Year is still more than a month away, but at the moment consumer demand is high, some items show signs of price increases.
Although the quantity of goods in supermarkets and traditional markets is still quite abundant, meeting the consumption needs of people, due to the impact of unfavorable weather this year, the supply of food and foodstuffs both domestically and imported is facing difficulties. This has had a significant impact on market prices.
According to a survey by reporters from the Industry and Trade Newspaper, currently, at supermarkets in Ho Chi Minh City, compared to last month, the price of green vegetables has increased by 10-20%, and baking ingredients such as flour and cooking oil have also increased by 5-10%. Not only that, the price of meat such as pork, chicken, seafood, and aquatic products are also on the rise slightly.
Ms. Nguyen Thi Lan, owner of a fruit shop in Ho Chi Minh City, shared: "The prices of some fruits have started to increase, and are expected to increase more strongly as Tet approaches. Based on my experience, I have found that oranges and green-skinned grapefruits are the two products that tend to increase in price the most and are also the most popular during Tet, because they can be preserved for a long time and are often chosen as gifts. Currently, the prices of green-skinned grapefruits and oranges range from 50,000 - 55,000 VND/kg, but I predict that the prices may increase by about 20% as Tet approaches."
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| Shopping demand is increasing as New Year and Lunar New Year approaches. |
Ms. Le Thi Thu, owner of a food store in District 8, Ho Chi Minh City, is also facing many challenges due to constantly receiving price increase notices from suppliers.
"Processed seafood producers have announced a 5% price increase, pickled pig ears have increased by 11%, and ham and sausages have increased by up to 13%. High-quality rice is also on the rise. Fruit growers have also announced that they will adjust prices according to the general market situation as Tet approaches. In addition, transportation costs are also increasing," said Ms. Thu.
Ms. Tran Thu Ha, living in District 10, Ho Chi Minh City, said she just bought a 5-liter bottle of cooking oil for 200,000 VND, while last month the price was only 175,000 VND. Ms. Ha confided: "When shopping at the market, items that have increased in price by a few thousand VND are often not noticed or difficult to remember. But when shopping at the supermarket, with the invoice and clearly listed prices, I noticed the difference and knew that many items had increased in price . "
The main reason for this fluctuation comes from the increase in input material prices, transportation costs and production costs, all of which directly affect the final cost of the product.
Faced with this situation, a number of large supermarket chains in Ho Chi Minh City have decided to increase prices by at least 3%-5% for most suppliers. The new prices have been applied to some items, while other items are expected to be adjusted in the next import batch.
On the suppliers’ side, they explained that they have tried their best to stabilize prices and maintain stable prices for consumers. However, with the strong fluctuations in raw material prices, especially international shipping costs and operating costs that have exceeded their ability to cope, adjusting selling prices is a measure of force majeure. They are forced to adjust selling prices to partly compensate for the significantly increased input costs.
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| Increases in raw material prices, transportation costs and manufacturing costs all directly impact the final cost of the product. |
At present, many businesses, supermarkets and retail systems have launched Tet gift boxes on the market. Notably, the trend of Tet gift boxes this year focuses on health care and environmentally friendly products. The main products in the gift boxes are often agricultural products and essential consumer goods, meeting the practical needs of consumers.
According to Ms. Nguyen Thi Bich Van, Communications Director of Central Retail Vietnam (the owner of supermarkets GO!, Big C, Tops Market, etc.), consumer purchasing power has shown signs of increasing in recent days. The items that consumers are most interested in and purchase are focused on products serving year-end needs, including beer, wine, soft drinks, cold cuts, fruits and Christmas decorations. This shows that the demand for shopping for year-end holidays is increasing.
In particular, for the upcoming Lunar New Year 2025, Central Retail representative expects the output of goods supplied to the market to increase by about 10% compared to the same period last year.
To accompany people during the Tet holiday with prosperity and price stability, the authorities have been implementing many synchronous measures. Recently, the Ministry of Industry and Trade issued a directive on implementing solutions to ensure supply-demand balance and market stabilization in the final period of 2024 and the Lunar New Year 2025.
Together with the Ministry of Industry and Trade, the Ministry of Finance has also given close instructions. The Ministry of Finance requires its affiliated agencies, units, the Department of Finance of provinces and cities, and related agencies to closely coordinate and synchronously implement measures to maintain the stability of market prices. The main goal is to prevent price fluctuations that could negatively affect socio-economic life, especially during the Lunar New Year 2025, when consumer demand increases.
Source: https://congthuong.vn/tp-ho-chi-minh-nhieu-mat-hang-co-dau-hieu-tang-gia-truoc-them-tet-366360.html
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