Maintain stable prices of essential goods during the end of the year and Tet holiday

Since mid-November, the commodity market in many provinces and cities across the country has been strongly affected by two factors occurring at the same time: supply from major production areas has been delayed due to prolonged rain and floods, and consumer demand - including charity activities - has increased dramatically at different times. This resonance has caused prices of many essential goods to fluctuate continuously, especially vegetables, fresh foods and dried goods.

Faced with this situation, the Ministry of Industry and Trade has asked the Departments to closely monitor market developments, proactively stockpile goods and prevent speculation and hoarding. In Ho Chi Minh City, businesses and authorities are implementing many synchronous measures to stabilize prices and maintain purchasing power.

Prioritizing the supply of essential food to localities affected by floods and storms, while meeting the increasing purchasing power in the domestic market, some companies have doubled their capacity compared to normal to meet the order schedule. Thanks to sufficient stockpiling of raw materials for the peak production season at the end of the year, selling prices remain stable.

Pressure from logistics costs and raw material supply is causing some product groups to tend to increase prices. However, to maintain purchasing power during peak periods, some retailers said they are negotiating with suppliers to maintain appropriate price margins.

According to the Ho Chi Minh City Food and Foodstuff Association, the pressure to maintain commodity prices is greater than usual as the market is affected by many external factors such as exchange rates, weather, and transportation costs. However, businesses are still trying to maintain selling prices.

Ms. Ly Kim Chi - President of the Ho Chi Minh City Food and Foodstuff Association said: "Because we have proactively stocked up on raw materials very early, optimized the production process, signed stable contracts with suppliers, and fully participated in the city's market stabilization program, even though costs have increased, businesses still sacrifice part of their profits to maintain price stability."

"We are building a supply-demand connection program in December, inviting businesses across the country, introducing new sources of goods, prioritizing food and OCOP products to increase the supply of goods for Ho Chi Minh City," said Mr. Nguyen Nguyen Phuong - Deputy Director of the Department of Industry and Trade of Ho Chi Minh City.

Green vegetables, food… many types of goods sold in supermarkets and price stabilization points are at better prices than in the market. Some systems have applied restrictions on large purchases to prevent hoarding and price hikes. The Ho Chi Minh City Market Management Department said it will strengthen inspections and penalties for unreasonable price increases to ensure stable market operations at the end of the year.

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