Companies participating in the programme, including Big C, Saigon Co.op, and Vissan, cut pork prices by VND2,000-VND3,000 a kilogramme.— Photo thanhnien.com.vn

HCM CITY (Biz Hub) — The HCM City Department of Finance on Tuesday approved a plan to cut the prices of poultry and animal meat and eggs sold under the price stabilisation programme.

The new prices, down by VND1,000 -VND5,000, took effect yesterday.

The price of duck meat has fallen by VND5,000 a kilogramme to VND65,000, and chicken and duck eggs are down VND1,000 for a box of 10 to VND23,000 and VND32,000 respectively.

Companies participating in the programme, including Big C, Saigon Co.op, and Vissan, cut pork prices by VND2,000-VND3,000 a kilogramme.

Nguyen Quoc Chien, head of the department's Price Division, attributed the price decline to lower prices in the market and a drop in costs.

Many of the participating companies said they cut prices to stimulate demand, which has been falling.

Suppliers and supermarkets have also launched promotions.

Vo Hoang Anh, Saigon Co.op's marketing director, said with fuel and cooking gas prices falling, the supermarket has urged suppliers to cut prices of essential items to spur demand.

Saigon Co.op has cut the prices of thousands of essential products by 10-50 per cent until November 12, he said.

Participants in the price stabilisation programme are required to cut the prices of goods when their cost falls by 5 per cent.

The price of all the goods in the programme are 10 per cent lower than market prices.

The department estimates that since the supply of poultry will be abundant until year end, prices will remain stable. — VNS