Nghe An: Purchasing power of goods will increase about 20-30% before and during the Lunar New Year

Mr. Hoang Minh Quan - Head of Price Department, Department of Finance said: According to consumer demand in the months before, during and after Lunar New Year, purchasing power of goods in Nghe An is expected to increase by about 20 - 30% compared to other months, meaning total retail sales of goods will reach about 6,600 billion VND/month.

The sharp increase in live hog prices has also pushed up the price of pork. Pig farmers are very excited to sell at this time. Photo: Quang An

In particular, it is expected that consumer demand will increase in some essential goods, for example, food 26,000 tons/month. The main supply for consumer demand in Vinh city comes from agents, store networks of key units such as: Thanh Nghe Tinh Food Joint Stock Company, Hung Tien Import-Export Company Limited... and large businesses in the markets.

People in Anh Son district raise free-range chickens, increasing the herd by 15-20% to serve the Lunar New Year market. Photo: Thai Hien

Regarding livestock and poultry meat: the consumption demand is about 6,000 tons of live meat/month, and it is expected that during Tet, the demand may increase to 9,000 tons. The total output of chicken, duck, pork, and beef from businesses, cooperatives, and households in the province supplies 10,000 tons of commercial meat/year, so it is forecasted that the source of livestock and poultry meat produced in the province during Tet will be guaranteed. However, due to the circulation of goods outside the area, there may be times when the market still has a local shortage of goods.

After Tet, prices of livestock and poultry meat will gradually decrease and return to stable levels as usual.

Among the products serving Tet, seafood is expected to increase to 3,000 tons/month, exceeding 1,000 tons compared to other months because this product not only serves the needs in the province but also supplies a large quantity to the out-of-province market.

Lach Quen fishing port is always bustling. Photo: Thanh Yen

Processed food, consumption demand is about 1,500 tons/month, expected demand during Tet holiday can increase 20-25%. In addition to processed seafood products, the remaining processed products are mainly exploited from other provinces and cities.

As for vegetables and tubers, the estimated consumption demand is about 30,000 tons from the main supply sources in the province. It is forecasted that before, during and after the Lunar New Year, these items will tend to increase.