Due to a recent slight drop in gasoline prices, prices of dozens of fresh food products, including meat, fish, seafood, vegetables, and fruits, have been cut by 10 per cent by Big C supermarket.
Some products, such as chicken wings, chicken feet, frozen salmon, and basa fish, are cut an additional 5 per cent when customers buy 3kg or more.
Pork products continue to be sold at market-stabilized prices. Specifically, pork shoulder is sold at VND136,000 per kg; meat chop is sold at VND135,000 per kg; pork leg is sold at VND122,000 per kg.
Similarly, MM Mega Market, Emart, Aeon, Co.opmart, and Satra are offering discounts of as much as 60 per cent for items, with the average discount on food items at around 10 per cent depending on the product and supermarket.
Gasoline prices have dropped by about VND6,000 per liter compared to June, but supermarkets have not received price adjustment notices from suppliers. However, supermarkets are still running promotions to stimulate demand while reducing profits to support customers.
Meanwhile, prices of most items at traditional markets have not decreased, but there are no signs of price hikes either.
Many economic experts said that the decline in gasoline prices still needs to last at least half a month to form a general price adjustment in the market. Therefore, people and businesses should not expect the prices of goods and services to decrease immediately.
At traditional markets in HCM City, such as Vuon Chuoi Market (District 3), Nguyen Tri Phuong Market (District 5), and Binh Thoi Market (District 11), prices of vegetables, pork, chicken remain high after gasoline prices dropped.
Specifically, lettuce is priced at VND60,000 VND per kg, tomatoes and onions are still at VND30,000-50,000 per kg.
The price of chicken eggs sold in many markets is currently VND44,000-50,000 for a box of 10 eggs.
Minh Ngoc, a trader at Nguyen Tri Phuong market, said that the price of gasoline dropped, but the price of pork in wholesale markets still increased slightly due to a lack of supply. Therefore, the selling price at retail markets remains the same.
Pham Thanh Hung, vice chairman of the Board of Directors of Ba Huan Joint Stock Company, told Sai Gon Giai Phong (Liberated Sai Gon) that the reduction in petrol prices helped to cool down freight rates.
However, in the cost structure of poultry eggs, logistics costs account for less than 20 per cent, and fuel costs account for a small proportion of logistic costs. Currently, the price of all kinds of animal feed has been increasing robustly due to the disruption of the worldwide supply chain, so it will be difficult to lower poultry egg prices.
On July 21, gasoline prices fell for the second time this month in Viet Nam.
RON95-III now sells for VND26,070 (a little over $1) per liter following a regular fuel price adjustment by the Ministry of Finance and the Ministry of Industry and Trade.
E5RON92 gasoline prices dropped VND710 to VND25,070 per liter.
The ministries also brought diesel prices down VND1,740 to VNDD24,850 per liter. — VNS