MoIT takes action as market sets up new price levels

It was recorded on November 23 in Ho Chi Minh City that some products and many services set new price levels.
MoIT takes action as market sets up new price levels ảnh 1 Customers buy vegetables at a supermarket. (Photo: SGGP)

Many essential products' prices have risen by about 15 percent

At some markets in District 12 and Hoc Mon District, the prices of fresh vegetables and fruits increased slightly from VND3,000 to VND5,000 per kg. For example, Can Tho head mustard edged up to VND19,000 per kg; oranges rose to VND40,000 per kg; Dalat bananas went up to VND21,000 per kg. Seafood, pork, and chicken also rallied by VND5,000-VND10,000 per kg, depending on the type. For instance, red tilapia is currently priced at VND60,000-VND65,000 per kg; free-range chicken fetches VND60,000-VND70,000 per kg.

Nguyen Thi Nhung, a grocer in Nguyen Thi Can Street in District 12, said that from the beginning of November to now, prices of most products had gone up. Cooking oil climbed by VND4,000-VND8,000 per liter; chicken eggs increased from VND3,000-VND4,000 per dozen. Each product did not increase much, but still made consumers struggle to balance the monthly spending, Nhung said. Le Thi Kim Loan, a vegan bread seller in Le Quang Dinh Street in Binh Thanh District, shared that the price of input materials surged by 15-25 percent, so she had to increase the selling price by VND1,000 per loaf of bread.

A representative of a supermarket system said that up to now, the purchasing power has still decreased by 30 percent, but many essential products have risen by about 15 percent. Especially, tomatoes have jumped by more than 50 percent, exceeding VND30,000 per kg. Pork is still at a high level, such as pork leg is sold at VND139,000 per kg, and pork fillet is sold at VND186,000 per kg, although the price of live pigs is around VND50,000 per kg. Especially, the prices of imported goods rocketed due to transportation difficulties. Amid this situation, representatives of supermarket systems said that they were reviewing their goods and would choose alternative products to limit dependence on only one supplier for those with high prices.

MoIT takes action as market sets up new price levels ảnh 2 Prices of vegetables at supermarkets are much higher than those at the beginning of November. (Photo: SGGP)
According to Deputy Director of HCMC Department of Industry and Trade Nguyen Nguyen Phuong, the department has organized the "focused promotion program in 2021 from November 15 to December 31 to help people buy goods at good prices as much as possible. At the same time, the Department of Industry and Trade has strengthened activities to connect supply and demand of goods with provinces, coordinated with the provinces and related departments to create the most favorable conditions for goods to be transported and brought to HCMC for consumption. Moreover, the unit has also accelerated the reopening of traditional markets that remained temporarily closed, gradually increasing the operational efficiency of wholesale markets to ensure the supply and demand of goods for the city market because when the supply of goods to the market is abundant, and consumers have more choices, commodity prices will be regulated better by the market.No shortage of goods, price hike on Tet holiday The Ministry of Industry and Trade has just issued Directive No.12/CT-BCT on solutions to ensure the balance of supply and demand, stabilize the market at the end of 2021, and the occasion of the Lunar New Year in 2022. Accordingly, the Ministry of Industry and Trade proposed the provincial departments of Industry and Trade to monitor and assess the supply and demand of goods, especially essential products and products that are in great demand or have seen high price fluctuations, to proactively have plans or propose to the authorities measures to ensure the balance of supply and demand, stabilize the market, and prevent a shortage of goods and interruption of supply which causes sudden price increases during the year’s end and Lunar New Year holidays or in the event of an outbreak of Covid-19 pandemic. The Departments of Industry and Trade of the provinces and cities proactively advise on plans to ensure the supply of goods according to the development of the Covid-19 pandemic in the area; have a plan to prepare goods and reserve essential goods for consumption in case of Covid-19 pandemic; implement measures to stabilize the market and stockpile goods during the Lunar New Year. At the same time, they should coordinate with relevant departments to support and promptly remove difficulties to ensure smooth circulation and timely supply to the market at the year’s end and the Lunar New Year; launch the National Focused Promotion Program in 2021 and other programs to bring goods to remote and rural areas, with sufficient quantity, reasonable prices, and guaranteed quality.

The Market Surveillance Authority in the localities strengthens local management, inspection, and market control to promptly detect and strictly handle violations.