Business

Plentiful supply of goods cools down prices

SGGP Thursday, January 06, 2022 13:30

From the beginning of January to now, the wholesale markets of Hoc Mon, Thu Duc, Binh Dien have received 2,600 tons, 1,600 tons, and 1,500 tons of goods per day, respectively. Thereby, prices of food and fresh goods have declined by about 20 percent.

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Pork prices cool down as pork supply increases again. (Photo: SGGP)

On January 5, HCMC-based wholesale markets informed that the volume of goods arrived at these markets had increased sharply, so the prices of some products decreased slightly.

Noticeably, prices of live pigs at livestock farms and pig-farming households were fairly good, around VND46,000 - VND50,000 per kg, bringing prices of grade-1 pork to VND65,000 per kg and grade-2 pork to VND56,000 per kg. Pork legs were priced at VND57,000 per kg, baby ribs at VND130,000 per kg, pork chop at VND55,000 per kg, minced pork at VND75,000 per kg, and pork belly at VND105,000 per kg.

Similarly, vegetables, tubers, fruits, aquatic, and seafood products have also been about 20 percent cheaper, depending on the type, thanks to an abundant supply of goods to the wholesale markets after a period of interruption due to seasonal factors. In addition, transportation of goods has now reopened.

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Prices of many types of vegetables, tubers, and fruits decrease by 20 percent. (Photo: SGGP)

Moreover, the disruption in export activities caused agricultural products to return to serve the domestic market, so their prices were adjusted down to clear the backlog. The volume of goods is expected to surge drastically from the 25th to the 27th of the twelfth month in the lunar calendar, with the group of vegetables and fruits doubling. Although the volume of goods entering the market is increasing sharply, in comparison with the capacity of all three wholesale markets, Hoc Mon, Thu Duc, and Binh Dien, the figure remains modest, decreasing by 30 percent, 50 percent, and 60 percent, respectively, because the situation of spontaneous trading on the roads around these wholesale markets has not been thoroughly handled by local authorities. Faced with this inadequacy, the Department of Industry and Trade has just sent a document to the authorities about reporting the results of implementing solutions to manage the transportation and spontaneous trading of agricultural products and food in the surrounding areas of three wholesale markets.

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The situation of spontaneous markets remains complicated around three wholesale markets. (Photo: SGGP)

Accordingly, the HCMC Department of Industry and Trade assessed that the areas surrounding three wholesale markets were extremely complicated. Spontaneous markets did not ensure food safety, security, and environmental sanitation and created unfair competition between traders inside and outside the markets. This situation has affected the implementation of pandemic prevention and control solutions. The department requested relevant agencies to report the results of the implementation of solutions to manage the spontaneous transportation and trading of agricultural products and food around three wholesale markets to have a basis for summarizing and submitting to the municipal People's Committee for timely review and direction before January 5.

By Lac Phong – Translated by Thuy Doan

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