Purchasing power decreased by nearly 50%, traditional market traders in Vinh Long stopped selling

Ms. Le Kim Mai (born in 1968, in Vinh Long City, Vinh Long Province) said that she has been in the fish trading business for more than 30 years. Since she moved to Vinh Long market to sell for nearly 10 years, there has never been a year when purchasing power has decreased as much as it is now.

According to Ms. Mai, the selling price of fish is the same or lower than half a month ago, purchasing power is only about 50%. "Red tilapia remains at 40,000 VND/kg, the selling price of sea bass has now dropped to 120,000 - 130,000 VND/kg, while about a month ago the selling price was 20,000 - 25,000 VND/kg higher," Ms. Mai added.

Sharing the same sluggish situation, Ms. Nguyen Thanh Thuy - a pork vendor at Phuoc Tho market (Ward 8, Vinh Long city, Vinh Long province) - said that the recent decrease in purchasing power may be due to the general economic difficulties, many people have to tighten their spending.

According to Ms. Thuy, nowadays there are many sellers but few buyers, small traders in the market also have to compete with street vendors outside the market. Therefore, those who sell in the market must be cheerful, must sell at the right price, only then will buyers remember and come back to support them.

“Previously, 30kg of meat was only sold until 9-10am, but now, on weekdays, it has to be sold until after 3pm. From February 21-25, I stopped selling,” Ms. Thuy added.

With a sad face, Mrs. TKH said: "Although I have been selling fish for more than 30 years, I have to stop selling now and live at home with the money my children give me. If I continue to sell fish at the market, I won't make much profit, and sometimes I will lose money because my purchasing power is too weak."

Many traders at Vinh Long fish market have stopped selling because purchasing power is too weak. Photo: Hoang Loc

Speaking with Lao Dong, Mr. Tran Nhat Thanh - Director of the Department of Industry and Trade of Vinh Long province - informed that currently the whole province has 115 traditional markets, of which only Vinh Long market is type I.

According to Mr. Thanh, for nearly half a month now, the prices of many fresh foods have not fluctuated much due to abundant supply. However, as consumers gradually change their shopping habits and save on spending, purchasing power at traditional markets has not improved.

“In the coming time, the Department will direct relevant business departments, especially market management departments, to arrange and organize reasonable locations to create favorable conditions for buyers to access goods, and for sellers to import large quantities of products to get reasonable prices,” Mr. Thanh added.

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