The prices of essential foods have been on the rise, although demand hasnot increased and the Lunar New Year Festival is one month away.
According to the Ministry of Finance's Price Management Department,the prices of meat sold at local markets went up slightly in the firsttwo weeks of December compared with the same period last year.
At several markets in the north, the prices of different kinds of meathave climbed higher by up to 5,000 VND (0.23 USD) per kilo.
According to several butchers in Hanoi, the prices of meat willcontinue to increase as Tet nears. The price of chicken is expected tobe the most volatile and could rise by up to 20,000 VND (0.9 USD) perkilo as it is a must-have dish on every family's altar during theoccasion.
Tran Thi Huong, a trader at Kim Lien market,said typically, meat prices increase before the Lunar New Year holidayon the back of limited supply and anticipated higher demand.
"Farmers have begun to stockpile goods and they are waiting for pricesto rise further, although demand is already picking up," she noted.
In addition, fruit prices have also become volatile. Banana prices,for instance, have risen by 50 percent, while grapefruit prices havegained 10-20 percent since late November. Other fruit prices have alsosoared by 7,000-20,000 VND (0.3-0.9 USD) per kilo.
Vegetable prices have also increased rapidly in the past week. Severalvegetables have been sold at double or even triple prices in thewholesale markets.
For example, cabbage is beingsold at 10,000 VND (0.4 USD) per kilo at small markets, while itswholesale price is 4,000 VND per kilo. Traders said the prolonged coldweather and an increase in petrol prices are the main reasons for theprice hike.
However, farmers at other vegetablegardens in Thanh Xuan, Tu Liem, Ha Dong and Hoai Duc districts pointedout that the supply of some vegetables is quite high and that they arebeing sold at very low prices.
Nguyen Van Tinh, afarmer of the Van Duc Co-operative in Gia Lam District, said theco-operative alone could supply more than 10-15 tonnes of vegetables perday. So, there is no question of a shortage in supply.
Tinh said the prices of some vegetables had, in fact, dropped andfarmers are being forced to sell to traders at very low rates.
Nguyen Mac Huong, a resident in Phan Dinh Phung street, said she hadstarted to stock up on food for Tet after she saw prices rising everyday. "Everything is much more expensive this time. As usual, there is noclear reason," she added.
At a conference on thefood supply and demand this Tet, Deputy Minister of Industry and TradeHo Thi Kim Thoa confirmed that there will be an adequate supply of goodsacross the country during the longest and most important annualfestival of the country, adding that there are several promotionprogrammes offering discounts and gifts to consumers, which would reducethe prices of meat by 10,000 VND per kilo.
Thepurchasing power of the people before the Lunar New Year holiday isforecast to increase by 15 percent from last year. Essential foods haveseen the biggest gains in prices, up 10 percent at local supermarketsthis year.-VNA
According to the Ministry of Finance's Price Management Department,the prices of meat sold at local markets went up slightly in the firsttwo weeks of December compared with the same period last year.
At several markets in the north, the prices of different kinds of meathave climbed higher by up to 5,000 VND (0.23 USD) per kilo.
According to several butchers in Hanoi, the prices of meat willcontinue to increase as Tet nears. The price of chicken is expected tobe the most volatile and could rise by up to 20,000 VND (0.9 USD) perkilo as it is a must-have dish on every family's altar during theoccasion.
Tran Thi Huong, a trader at Kim Lien market,said typically, meat prices increase before the Lunar New Year holidayon the back of limited supply and anticipated higher demand.
"Farmers have begun to stockpile goods and they are waiting for pricesto rise further, although demand is already picking up," she noted.
In addition, fruit prices have also become volatile. Banana prices,for instance, have risen by 50 percent, while grapefruit prices havegained 10-20 percent since late November. Other fruit prices have alsosoared by 7,000-20,000 VND (0.3-0.9 USD) per kilo.
Vegetable prices have also increased rapidly in the past week. Severalvegetables have been sold at double or even triple prices in thewholesale markets.
For example, cabbage is beingsold at 10,000 VND (0.4 USD) per kilo at small markets, while itswholesale price is 4,000 VND per kilo. Traders said the prolonged coldweather and an increase in petrol prices are the main reasons for theprice hike.
However, farmers at other vegetablegardens in Thanh Xuan, Tu Liem, Ha Dong and Hoai Duc districts pointedout that the supply of some vegetables is quite high and that they arebeing sold at very low prices.
Nguyen Van Tinh, afarmer of the Van Duc Co-operative in Gia Lam District, said theco-operative alone could supply more than 10-15 tonnes of vegetables perday. So, there is no question of a shortage in supply.
Tinh said the prices of some vegetables had, in fact, dropped andfarmers are being forced to sell to traders at very low rates.
Nguyen Mac Huong, a resident in Phan Dinh Phung street, said she hadstarted to stock up on food for Tet after she saw prices rising everyday. "Everything is much more expensive this time. As usual, there is noclear reason," she added.
At a conference on thefood supply and demand this Tet, Deputy Minister of Industry and TradeHo Thi Kim Thoa confirmed that there will be an adequate supply of goodsacross the country during the longest and most important annualfestival of the country, adding that there are several promotionprogrammes offering discounts and gifts to consumers, which would reducethe prices of meat by 10,000 VND per kilo.
Thepurchasing power of the people before the Lunar New Year holiday isforecast to increase by 15 percent from last year. Essential foods haveseen the biggest gains in prices, up 10 percent at local supermarketsthis year.-VNA
