The price of goods for the upcoming Tet (Lunar New Year) holiday is expected to be stable as the prices of petrol and pork have declined in recent times.
Trade experts have said petrol and pork were the two main commodities directly impacting on the consumer price index. The petrol price recently fell for a fourth time this year, while pork was down to VND45,000-50,000 per kilo. Pork is the most popular meat for Tet feasts.
Deputy Director of Ha Noi Industry and Trade Department Tran Thi Phuong Lan said the total value of goods to be sold for the Tet holiday was estimated to hit VND28.5 trillion (US$1.2 billion), up 10 per cent compared with that of last year. The goods include rice, meat, fruit, vegetables, alcohol and ornamental plants.
“The supply of clothes and electronic products will also push up because of increasing demand of people before solar and lunar New Year holidays. Meanwhile, businesses will launch many promotional programme to boost consumption,” Lan said.
She said businesses had prepared goods for the holidays at a 10-15 per cent increase compared with previous months, aiming to meet consumption demand but not have a surplus after Tet.
“There are dozens of businesses which have registered to join in Tet promotional programmes. Three credit organisations have pledged loans worth a total VND2.7 trillion for businesses to stabilise prices during the holiday,” Lan said.
As one of the units designated by Ha Noi to participate in the price stabilisation programme and prepare goods for Tet, Hapro Group has prepared domestic products including rice from the southern province of Dong Thap, Chu Dau pottery, Thang Long wine, chung green bean cake and imported products such as fruits, biscuits and candies and various nuts.
Mai Bich Lien, media representative of Hapro, did not disclose the value of goods prepared for Tet but said the group’s members had readied an amount worth its highest ever value for the holiday.
“If the price of petrol continues going down this year, Hapro will reduce the prices of goods properly for Tet,” said Lien. — VNS