HCMC tries to keep commodity prices stable at year's end

The HCMC Department of Industry and Trade said it encourages enterprises to take turns launching promotional programs in supermarket chains to serve consumer demand and boost consumption from now to year-end.

HCMC tries to keep commodity prices stable at year's end

As per the local market management board’s forecast, flood and rain will result in reduction in supply and rising prices of food and foodstuff in some localities.

Additionally, because world price fluctuation will make impact on the energy group which is hardly stable while prices of imported items will rise because of the effect of change in foreign exchange rate.

For supply-demand balance, controlling inflation and stabilizing macroeconomics, the local market management board proposed local authorities to early implement subsidized program at year-end and upcoming Tet holiday.

Local administrations need to forecast demand to supply enough commodities for market especially essential items. Besides, authorities should asses production capability and supply of cattle meat, poultry meat; furthermore, governments in localities urge enterprises which take part in the price stabilization program to sign contract with producers for ensuring a stable supply at cheap price at year-end and holidays.

Because of high sugar inventory, local authorities should call for consumption domestically-made sugar while provinces having borders with other countries tighten control of sugar smuggling.

In HCMC, for ensuring supply of foodstuff items, producers and distributors work together to check commodities and provide money to their partners for developing quantity of fresh and processed foods, and others.

The Department of Industry and Trade and its peers in cities and provinces jointly organize conference to promote supply-demand link of agro-product, specialties, fresh and processed food with clear indications of origin as well as handicraft and consumer which are potential for exports.