Goods prices are expected to increase at the end of the year

The pressure to increase commodity prices has become more evident in the final months of the year as import, transportation and raw material costs have all escalated. Housewives say they have to squeeze by to balance their family expenses.

People shopping at a supermarket in An Khanh ward (HCMC) - Photo: QUANG DINH

To stimulate consumption in the context of cautious purchasing power, many businesses and retail systems in Ho Chi Minh City are proactively increasing reserves, finding sources of goods at good prices and promoting promotions to keep prices stable.

Imported goods increased in price first

Shopping at a supermarket near her home, Ms. Nguyen Bich Thuan (An Phu Dong ward) said that although there are still many promotional signs, in reality, if you compare carefully with the price stabilization period last year, the prices of many products have increased.

The price of chicken eggs is now almost over 30,000 VND/dozen depending on the type, an increase of 2,000 - 4,000 VND; many brands of fish sauce, soy sauce, cooking oil increased in price by 4,000 - 8,000 VND/product; confectionery increased in price by 5,000 - 15,000 VND/product; some brands of instant noodles, seasoning powder, milk... also increased in price...

Meanwhile, when shopping at the market every day, Ms. Ho Thi Yen (Binh Quoi) said that the prices of many essential food items and processed foods at the market are not as good as at the supermarket because there are few promotions, but because she is busy with work, she rarely goes hunting for discounted items. According to Ms. Yen, not only food and drink, but also consumer goods, basic household goods, imported goods... have recently tended to increase in price.

A representative of a large supermarket in Ho Chi Minh City said that most suppliers have been busy offering increased prices for the end of the year and Tet holidays. However, the purchasing department has tried to negotiate with suppliers to maintain stable prices, especially for items consumed a lot during Tet such as ham, sausage, spices, candy, etc. If there is an increase, it will try to increase by 7-9% compared to last year's Tet.

Mr. Vo Thanh Loc - Commercial Director of Farmers Market supermarket - said that among thousands of imported goods imported directly by the unit, re-imported from other businesses or suppliers and put into sale in the system, the selling price has increased compared to last year, in which the selling price this Tet increased by about 12 - 15% compared to last Tet. Some imported products such as Malaysian chocolate, Indian biscuits, Korean honey tea and ginseng candy, organic candy from Europe... are affected by the exchange rate of USD as well as the euro.

"The number of items with increased prices is currently about 40%, the rest will increase before Tet, possibly in November. Suppliers usually notify one month before the price adjustment, and Tet goods will usually have their prices adjusted in November so that businesses can plan to import and stock goods for Tet sales," said Mr. Loc.

In addition to imported goods, Mr. Loc said that many domestically produced items such as confectionery, processed foods of all kinds... have also received new price quotes from many suppliers, increasing by 5-10% compared to last year, in which special items like beef jerky this Tet can increase by 30-40%.

The wave of price increases is quietly spreading across many essential goods groups - Photo: TRI DUC

Cost pressures push up consumer prices

For manufacturers, the pressure to increase prices has been present for many months. Mr. Phan Van Thien - Deputy General Director of Bibica Joint Stock Company - said that since the beginning of the year, the company has increased the selling prices of some products, at most about 5 - 10% due to the impact of exchange rates and other factors that have caused the prices of many imported raw materials for making confectionery such as flavorings, flour, butter, cheese, etc. to increase.

"The increase in selling prices is due to the impact of input prices, although the company itself always tries to maintain stable prices. We apply the form of rotating price increases, dividing the time to limit the impact on agents and consumers," said Mr. Thien.

The representative of this business also said that under the impact of input prices and arising costs, in reality, many confectionery products on the market this Tet holiday can increase by up to 15%, or even more than the same period last year.

Mr. Truong Chi Thien, General Director of Vinh Thanh Dat Company, said that not only transactions, goods imported from the US but also imported from other major countries such as China, Korea, Japan... currently mostly have to be paid in USD, so almost all imports have to suffer losses from the increase in USD exchange rate.

According to the director of a household goods manufacturing enterprise in Ho Chi Minh City, the selling price of domestically produced goods has increased mainly because many units depend on imported raw materials. In addition, the recent tightening of tax and customs policies by the State... can also cause manufacturers and importers to increase selling prices.

Cheap Tet goods are prioritized?

A representative of the Lotte Mart system said that the fact that imported goods are affected by the increase in exchange rate is a reality and will have a general impact, affecting the price of goods sold, especially fresh products that must be imported regularly such as salmon, lobster, fruit... However, depending on the response plan and season, each unit and each product will be affected differently.

"Products with long shelf life such as dry products, cosmetics... can be prioritized for early import for storage, thus limiting the impact of exchange rates. In addition, diversifying the market and partners choosing to pay in a more profitable currency is also a way," he said.

Talking to Tuoi Tre, Mr. Tran Vo Ngoc, Sales Director of Saigon Co.op , also acknowledged that selling imported goods and goods with imported raw materials will be more or less affected by the recent sharp increase in the USD exchange rate, such as cooking oil, candy, fruit, meat, etc.

However, according to Mr. Ngoc, the price increase will not be too much and the amount of imported goods with increased prices will likely only account for a modest amount compared to goods with good prices and stable prices because manufacturers and retailers have planned for it early.

"At the time when the US increased tariffs on other countries, and recently the USD exchange rate, many manufacturing enterprises proactively imported goods in advance, leading to a large amount of goods not being affected or only slightly affected by the increase in USD exchange rate," he said.

Meanwhile, the Farmers Market system said that in order to have products suitable for the market's purchasing power, the chain has made efforts to diversify its supply sources, especially prioritizing products from neighboring countries this Tet holiday such as Thai candies and fruits; Malaysian, Indian, Indonesian candies; Chinese consumer goods...

"Although it is possible to pay in USD, the prices of goods in these countries are more affordable than those imported from Europe and the US, and the import process is also simpler... helping the unit reduce costs and reach customers more easily at a time when many consumers tend to prefer more affordable goods," said Mr. Vo Thanh Loc.

Many manufacturers said they have proactively signed contracts with raw material suppliers from 6 months to 1 year to ensure price stability. In addition, they have tried to cut unnecessary steps and optimize productivity to reduce costs, thereby limiting price increases.

According to Mr. Vo Tran Ngoc, the chain has planned for the supply of goods for Lunar New Year since July, and output is expected to increase by 10-15% compared to last year's Tet, so the number of products with discounts will be large.

"With the purchasing power of the Lunar New Year market this year forecast to not be as strong as previous years, the supermarket has actively worked with suppliers and offered the best possible prices, shared by both sides. At this time, if we do not share together and reduce profits to control prices, consumers will likely turn their backs, affecting sales," said Mr. Ngoc.

Some retailers also have a policy that if any supplier offers good prices or exclusive prices, they will be given priority for beautiful display space, support for promotions, and product promotion.

The increase commonly applied by businesses ranges from 5% to more than 10% - Photo: QUANG DINH

Finding solutions with price stabilization products and stimulus programs

Speaking with Tuoi Tre, Mr. Nguyen Nguyen Phuong - Deputy Director of the Department of Industry and Trade of Ho Chi Minh City - said that the amount of goods to stabilize the market for Tet this year is quite abundant, many participating units have committed to increasing the variety and supply compared to last year, stabilizing prices, and some products such as pork have recently reduced prices a lot.

The city will coordinate with production and retail units to implement more stimulus programs, big incentives and launch "Responsible Green Tick Month" to stabilize prices before, during and after Lunar New Year 2026.

In addition, there are other solutions to promote domestic consumption and support businesses to expand the market. Typically, the Supply - Demand Connection Program 2025 is organized; the Concentrated Promotion Program - "Shopping Season" is widely deployed, combining mobile sales and price stabilization aimed at workers and low-income workers.

Businesses raise prices due to escalating input costs

According to a survey in the F&B (food and beverage) sector by iPOS.vn Company, up to 45% of F&B businesses have adjusted their selling prices in the first 6 months of 2025 - this is a rare rate in a sector that is sensitive to price fluctuations. The common increase is from 5% to more than 10%.

The main reason cited by 35.4% of businesses is the increase in prices of raw materials such as coffee, flour, milk and imported spices. In addition, 20% are under pressure from personnel costs, 21% are affected by tax policies, electronic invoices, business household regulations and 13.7% have difficulty with rental prices.

iPOS.vn representative said that the increase in costs has left businesses with little room for promotions or price cuts to stimulate demand. With the current price fluctuations, consumers are cautious in spending: 54.4% keep their budgets the same, 37.9% cut back and only 7.7% plan to increase spending on F&B services.

Many items may increase in price after Tet.

Mr. Do Ha Nam , Chairman of the Vietnam Food Association, said that with the current import-export transactions mostly using USD, when the USD exchange rate increases, imported goods will inevitably suffer, while exports will benefit. In addition, the high USD exchange rate also makes it difficult for businesses that have borrowed USD and have to pay interest and principal when the due date comes.

"Essential goods and raw materials that depend on foreign countries must be imported. To reduce the impact, businesses need to proactively calculate and balance import and selling prices early, cut down on imports when necessary and wait for the right opportunity.

With long-term contracts, many businesses proactively wait until after Tet to renew them to avoid the impact of exchange rates, so there is a possibility that some items will increase in price after Tet," said Mr. Nam.

A representative of Vietnam Joint Stock Company said that there is no need to import meat. With domestic pork prices at a low level for many months, the company has been proactive in supplying, so the amount of meat reserved for processing food products for sale during Tet this year is quite abundant. Prices of many items such as ham, sausage, sausages, etc. during Tet will certainly be stable.

NGUYEN TRI

Source: https://tuoitre.vn/hang-hoa-ruc-rich-tang-gia-cuoi-nam-20251025081624452.htm