Many Tet holiday items have increased in price.

(Baonghean)The twelfth lunar month of each year is also a time when prices of various goods increase due to high consumer demand. In addition, this year's prolonged cold weather has also contributed to the price increases of some items.

Throughout the past week, the market has witnessed price increases for many goods, from vegetables, fresh produce, and various fruits to rice, sticky rice, and some other household items. Prices are predicted to continue rising in the coming days as people's demand for Tet (Lunar New Year) shopping surges. Investigations at several markets in Vinh City show that many essential goods have seen significant price increases.

Ms. Nguyet, a vegetable vendor at Quan Bau Market (Vinh City), said: "Currently, green squash costs 13,000 VND/kg, an increase of 5,000 VND/kg compared to last month; green beans cost 20,000 VND/kg, an increase of 5,000 VND/kg; kohlrabi costs 20,000 VND/kg, an increase of 5,000 VND/kg; cabbage costs 13,000 VND/kg, an increase of 5,000 VND/kg; tomatoes cost 13,000 VND/kg, an increase of 4,000 VND/kg; and leafy greens like mustard greens and chrysanthemum greens have increased by 1,000-2,000 VND/bundle… The prolonged cold weather over the past few weeks is the reason for the increase in vegetable prices. The vegetables are sourced from districts on the outskirts of the city, and since the import price has gone up, we also have to increase our selling prices to make a small profit." The prolonged cold weather has also made production difficult, slowing down vegetable growth, and adding to the laborious work of harvesting and transportation, thus driving up product prices.



The price of fruits has increased significantly.

Ms. Linh, the owner of a beef stall at Quan Bau market, said: "As Tet (Lunar New Year) approaches, prices of goods fluctuate more and more. Last week, 1kg of grade 1 beef cost 210,000 VND/kg, but now it has increased to 230,000 VND/kg. In the coming days, the price of beef is likely to continue to rise even though there is no shortage of supply. This year the economy is difficult, and consumer demand is likely to decrease compared to last year's Tet."

In addition, pork prices have increased from 90,000 VND/kg for lean meat to 100,000 VND/kg; pork loin is priced at 80,000 VND/kg, an increase of 10,000 VND/kg; fragrant rice is priced at 13,000 VND/kg, an increase of 500 VND/kg; and Thai sticky rice is priced at 27,000 VND/kg, an increase of 2,000 VND/kg. Seafood items such as fish, squid, and shrimp are also expensive: grouper fish have all increased by 10,000 – 50,000 VND/kg.

Fruit prices have also increased significantly, with oranges rising by 10,000 VND/kg, mangosteen by 5,000 VND/kg; apples, mangoes, and pears by about 2,000 VND/kg… Many shop owners said that customers mainly come to check prices and promise to wait until payday to make purchases. At this point, people's demand for Tet shopping is still not high.

To promptly control market prices and limit private traders from artificially inflating prices during the Tet holiday, which affects consumer rights, the People's Committee of Nghe An province recently issued Decision No. 41/QD-UBND-TM dated January 5, 2013, "on the establishment of an inter-agency inspection team to inspect compliance with State regulations on price management in Nghe An province." The main task is to inspect the factors that determine prices for goods on the list of items experiencing price increases in the last months of 2012 and the beginning of 2013. This includes focusing on inspecting production and business costs, cost prices, and selling prices of items on the State's price stabilization list; and inspecting compliance with State regulations on price management, price registration, price declaration, price listing, selling at listed prices, and public disclosure of price information as prescribed by law.

The Department of Industry and Trade has also issued a document instructing the Market Management Sub-Department to coordinate with the Department of Finance to compile a list of inspection teams and develop a specific inspection plan. With the timely guidance and attention of the Provincial People's Committee and relevant agencies in controlling market prices in the last months of the year, it is hoped that the market for goods serving Tet in the province will not experience a sharp price surge.

Quynh Lan