The Lunar New Year of Tiger passed over two weeks, but prices of essential goods continue increased although buying power has not been high.
Surveys carried out in some markets in Bien Hoa city showed the sharpest increase in fresh foods, especially fruits and vegetables, including cucumbers priced at over VND10,000/kg after priced at VND20,000/kg in a long time. For the time being, in place of cucumbers, tomatoes was sold for VND17,000/kg. Some other vegetables such as squashes priced at VND13,000/kg, cauliflowers at VND23,000/kg, cabbages at VND7,000/kg, etc.
Tran Thi Thoai Yen, a small trader in Bien Hoa market explains, “Due to lengthy Tet holiday, many regular vegetable suppliers haven’t still worked yet, resulting in scarcity of commodities; that is to say demand exceeded supply. Moreover, garden owners concentrates on supplying products to serve Tet season; therefore, their supply to markets doesn’t meet demand, causing rapid increase in prices of some vegetables after Tet, especially cucumbers, tomatoes, etc”.
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| Price of fresh vegetables increased rapidly after Tet |
Price of foods increased considerably, resulting in unsaleability in markets. As many small traders said, not only buyers but also sellers are afraid of price rise, especially rise of “sensitive” goods such as foods, gasoline. Whenever their prices raise, certainly dealing stands still.
The first-class beef fillet till this time has been priced the same as before Tet after rising to VND170,000/kg; meanwhile, price of pork somewhat brought down. At the peak of sale season, price pork thigh rose to VND75,000 to VND80,000/kg; till now, price of pork fell to VND65,000/kg. That is the morning price that will drop VND57,000 due to to few customers, says Loan, a small trader.
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| Not high buying power makes price of pork fall |
At the restaurants, especially commonplace ones, price has rose by VND1,000 to VND2,000. Le Thi Kieu Oanh, an owner of a commonplace rice shop says, “Food price rises rapidly and sellers as me have to raise our price to make profit. However, we have to explain to customers to understand; in case prices go down,, we will also reduce our prices.
In stead of raising price, some people choose to reduce quantity to keep customers. “In this situation, we also can’t raise price, because, as we experienced, huge price rise will make customers anxious and we can’t sell our products. In place of selling a bowl of Pho for VND15,000 as usual, we will reduce amount of beef for price of beef grows much”, says Dung, an owner of Pho shop.
That price of gasoline rises by VND590/litre and there is information that prices of electricity and water will be adjusted to rise in the coming time makes price go up everyday with implicit risks of huge rise in the coming time. This increases problems for people, especially workers with low income such as workers, students, etc. “Because income stands still, especially in the first months of year for not high work amount, my family have to consider pluses and minuses and balance expenses reasonably so that we don’t have to make both ends meet by the end of year”, says Nguyen Thanh Van, quarter 3, Tan Tien ward.
Reported by Thanh Minh, translated by Hoai Thu.
