Home Commodities Retail prices of Tet commodities increasing

Retail prices of Tet commodities increasing

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Fresh fruits and ornamental flowers have reached retail markets in HCMC, ready for Tet demands of city dwellers, yet the prices see a gradually rise.

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Chrysanthemum grandiflorum pots from Khanh Hoa Province are sold in Gia Dinh Park on January 30

Multi-colored basketed chrysanthemums, ornamental kumquat, ornamental grapefruit are coming to ornamental flower markets and streets in all districts and Thu Duc City to serve HCMC residents.

The number of customers reaches a high late afternoons and evenings. Nguyen Thao, a flower seller in Gia Dinh Park informed that she bought hundreds of ornamental chrysanthemums pots from Ninh Hoa (Khanh Hoa Province) to sell at the prices from VND2.3 million – 10 million (US$94-409) per pair depending on their size. This price is lower than that of last year by VND100,000-200,000 ($4-8).

Along Quang Trung Street (Go Vap District), Mai Chi Tho Street (Thu Duc City), pots of ornamental kumquat and Hung Yen grapefruit are attracting crowds of consumers as their yellow color represents prosperity. The retail prices of the two types are VND1.5 million-3.5 million (61-147) and tens of millions of VND respectively.

As to Tet food preparation, Ong Ta Market on Cach Mang Thang Tam Street – Pham Van Hai Street (Tan Binh District) is welcoming a large quantity of customers seeking leaves to make ‘banh tet’ and ‘banh chung’ (Vietnamese cylindrical and square sticky rice cake). Banana and phrynium placentarium leaves are taken from Dong Nai Province or Hoc Mon District of HCMC to be sold at VND20,000-170,000 per kilo ($0.8-7). ‘Banh chung’ molds are offered at VND30,000-50,000 ($1.2-2) per item.

Retail sellers of sugar-coated fruits and Tet confectionary for Tet in Pham Van Hai Market (Tan Binh District), Hoa Hung Market (District 10), Binh Tay Market (District 6) happily informed of a gradual sales rise compared to previous weeks. Other essential commodities and food like rice, fresh fruits, pork are also witnessing a price increase by no more than VND10,000 ($0.4) per kilo compared to normal time.

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Customers are choosing confectionary in GO! Supermarket in Tan Phu District

As the Kitchen God Day (the 23rd day of the last lunar month) is approaching, supermarkets like GO!, MM Mega Market provide sufficient offerings and fresh food for their customers. Online order quantities have risen by 20-50 percent. Saigon Co.op is experiencing a similar rise and trying to process all orders within the same day of order. It is running the ‘Feast for Ancestors’ scheme, displaying different feast options for customers to buy.

To further boost purchasing power, many food processing companies are adopting promotional campaigns. Saigon Breeding and Food Processing Co. (Sagrifood) shared that the prices of the meat from pigs eating herbs here drops by 10-25 percent until the last day of this lunar year. Vissan Co. also lowers the prices of their pork by 10-30 percent.

Sales Director Nguyen Binh Phuong of Thu Duc wholesale produce market reported that the supply of Tet commodities increases mildly compared to last year. It is expected that the shopping peak will be February 4-7 (the 25th-28th of the last lunar month). At that time, the amount of vegetables entering the market will be 1,800-2,500 tonnes per day; fresh fruit 2.200-2.500 tonnes; fresh flowers 200-400 tonnes.

A similar case can be found in Hoc Mon wholesale produce market from February 4-9 (the 25th-30th of the last lunar month). There is a predicted increase of produce amounts by 30-50 percent. Particularly, the pork volume in the evening of February 8 (the 29th of the last lunar month) will double.

Businesses sited in HCMC taking part in the price stabilization program have prepared a merchandise quantity worth VND22 trillion ($900 million) to serve city dwellers at the best prices possible.

Director of the HCMC Industry and Trade Department Bui Ta Hoang Vu committed to cooperating with interdisciplinary functional agencies in all districts and Thu Duc City to closely monitor the market these day for any abnormal price changes and timely handle them. He promised to ensure both food origin and safety. Everything is done to eliminate the state of merchandise shortage or price surge.

By Thi Hong – Translated by Thanh Tam

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