Nghe An's commodity market remains stable during Tet holiday.
From the afternoon of the first day of Tet, some shops and services began to reopen; by the third day of Tet, things gradually became more lively, with centers and entertainment venues opening their doors to welcome people celebrating Tet.
Abundant goods, stable prices.
According to surveys, the market supply and demand situation before, during, and after the Lunar New Year of the Year of the Snake (2015) showed no abnormalities. Market prices in localities throughout the province were generally stable due to low demand for shopping on the first day of the year, as most people had already completed their pre-Tet shopping.
According to the Department of Industry and Trade, for food products, the total average rice consumption in the province is approximately 20,000 tons/month (average individual consumption of 6 kg/person/month), reaching about 22,000 tons/month during the Tet holiday. The amount of rice available at distribution centers for Tet is about 4,000 tons (mainly concentrated at Thanh Nghe Tinh Foodstuff Joint Stock Company, BigC supermarket, MM Mega Market, Vinmart system, food stores, general stores, and markets...). At the same time, in rural areas, people mainly consume rice they produce themselves, with an estimated reserve of about 18,000 tons.
Rice prices remain stable due to abundant supply. However, prices increased slightly before and after the Lunar New Year, particularly for specialty rice varieties and high-quality glutinous rice. The increase was insignificant because of the consistently abundant supply of locally produced rice and rice from the South.
Retail prices for some rice varieties remained relatively stable compared to the same period last year, specifically: High-quality rice produced in the province retailed at prices ranging from 18,000-21,000 VND/kg (in districts and towns), while in Vinh City, Thai rice and jasmine rice were priced at around 20,000-23,000 VND/kg, Hanoi glutinous rice at 27,000-32,000 VND/kg, and Thai glutinous rice at 30,000-35,000 VND/kg…
Retail prices of agricultural products have decreased slightly compared to the same period in 2024, specifically: black sesame seeds (grade 1) are around 60,000 VND/kg; shelled peanuts (grade 1) are around 55,000 VND/kg; and shelled mung beans (grade 1) are around 40,000 VND/kg.
Regarding fresh food products: The supply of fresh food products during the Lunar New Year 2025 will be stable, with no shortages, ensuring that the consumption needs of the people in the area are met, specifically:
Livestock, poultry, and seafood group: The total average demand for fresh food in the province is approximately 14,000 tons/month (equivalent to about 4 kg/person/month), with demand during Tet (Lunar New Year) around 18,000 tons/month.
Prices of basic livestock and poultry meats remained stable compared to the same period last year, specifically: beef tenderloin ranged from 240,000-270,000 VND/kg, beef shank from 260,000-280,000 VND/kg; pork loin ranged from 110,000-150,000 VND/kg; live free-range chicken was sold in the lowland districts and towns at approximately 110,000-130,000 VND/kg; and in markets in Vinh City, the price ranged from 130,000-150,000 VND/kg.
With abundant supply of seafood, retail prices remain stable compared to the same period in 2024, specifically: Red snapper is priced at 65,000 VND/kg, freshwater shrimp at 200,000 VND/kg, squid at 250,000-300,000 VND/kg, and grade 1 mackerel at 270,000-300,000 VND/kg...
For leafy greens, root vegetables, and fruits: The demand is approximately 20,826.5 tons of various vegetables, root vegetables, and fruits per month (equivalent to about 5.5 kg/person/month). The main supply source is within the province, with local production capable of meeting approximately 24,863 tons/month.
Thanks to the dry weather and abundant supply of vegetables, the prices of vegetables and fruits in the province remained stable, with some increasing slightly compared to the same period last Tet holiday. Specifically: jute mallow 10,000 VND/bundle; water spinach 10,000 VND/bundle; sweet potato leaves 12,000 VND/bundle; fragrant gourd 20,000 VND/kg; green squash 10,000 VND/kg; cabbage 10,000 VND/kg; kohlrabi 8,000 VND/kg.
Consumer goods group: Total demand for cooking oil is estimated at approximately 2,202 tons/month; dried agricultural and forestry products are estimated at 4,318 tons/month... The main sources of supply are within the province (major suppliers such as: Nam Long Co., Ltd., Go! Vinh supermarket, MM Mega market, Muong Thanh Phu Dien supermarket, TheCity Do Luong), and provinces and cities in the North and South.
Retail prices for various types of beer remained relatively stable, specifically: Hanoi canned beer at approximately 255,000 VND/case, Vida canned beer at approximately 230,000 VND/case, and Heineken canned beer at 455,000 VND/case. Sugar prices saw a slight decrease compared to the same period last year, fluctuating around 26,000 VND/kg. Cooking oil and other items such as seasoning powder and salt maintained relatively stable retail prices, specifically: Tuong An soybean oil: 70,500 VND/liter; Simply soybean oil: 69,500 VND/1-liter bottle; Neptune oil: 65,000 VND/1-liter bottle; Aji-ngon seasoning powder 900g: 81,500 VND/pack; Knorr bone marrow seasoning powder 900g: 79,000 VND/pack. Specifically, the retail price of instant noodles has increased slightly, ranging from 99,000 to 116,000 VND per carton.
This year's Tet (Lunar New Year) offers a wide variety of potted ornamental plants, ranging from small to medium to large sizes at various price points. Retail prices generally remain similar to the same period last year, ranging from 220,000-550,000 VND per pot (small for tabletops) to 700,000-900,000 VND per pot, and even up to millions of VND. During Tet, specific prices for flowers and ornamental plants are as follows: Chrysanthemums: 100,000 VND per dozen; lilies: 70,000-80,000 VND per stem; various types of flowers and kumquat trees for tabletops: 300,000-800,000 VND per pot...
Fruit prices have increased by 20-30% compared to normal days and are relatively stable compared to the same time last year. Specifically, bananas for offerings range from 200,000 to 350,000 VND per bunch, and pomelos from 50,000 to 65,000 VND per kilogram.
Continue monitoring and stabilizing the market after Tet.
According to Mr. Nguyen Van Hiep, Head of the Trade Management Department of the Department of Industry and Trade, this year's Tet holiday sees distribution units such as Thanh Nghe Tinh Foodstuff Joint Stock Company, Nghe An Agricultural and Food Products Company Limited, Nam Long Trading Company Limited, supermarket chains like Go! Vinh, MM Mega Market, Winmart, convenience stores like Winmart+, Bibigreen, etc., as well as shopping centers, goods distributors, markets, and wholesale traders, and petroleum distributors in the province having developed plans to prepare goods for Tet with a total estimated reserve of approximately 10,000 billion VND.
Several distribution businesses in the province have expanded their distribution systems, registering to cooperate with retail units to open essential goods sales points to serve the Lunar New Year, such as Thanh Nghe Tinh Foodstuff Joint Stock Company and Nam Long Trading Company Limited, with sales points in Dien Chau, Do Luong, Thai Hoa town and mountainous districts...
Overall, the prices of essential goods have not increased significantly compared to Tet 2024. Some items have maintained their prices to meet people's shopping needs, and there has been no price surge or sudden increase.
Currently, the prices of essential goods are relatively stable due to low demand. As is typical during the first days of the new year, people mainly visit spiritual sites and major entertainment venues throughout the country. These locations attract large numbers of visitors, so it is predicted that prices for services such as private parking, food and beverage services, and offerings for incense burning may increase compared to normal days. In addition, some soft drinks, beer, and soda near tourist attractions, sold by small businesses catering to the needs of visitors during the New Year holiday, may also see price increases.
The Ministry of Finance recommends that ministries, sectors, and localities continue to closely monitor the supply and demand and market prices of goods under their management, especially essential goods and those experiencing significant price increases in their areas, in order to proactively ensure a balance of goods supply, meet people's consumption needs, stabilize the market, and prevent shortages, disruptions in supply, and sudden price increases.
Demand for gasoline and diesel fuel increases during the Lunar New Year month compared to other months. The main suppliers are Nghe An Petroleum Company and other distributors including Phuc An Maritime Joint Stock Company, Luu Nga Limited Company, Do Luong Trading and General Trading Joint Stock Company, etc. In the first quarter of 2025, petroleum distributors plan to stockpile approximately 297,000 m³.3, in which key traders and distributors such as Nghe An Petroleum Company plan to stockpile approximately 208,500 m³.3, Do Luong General Trading Joint Stock Company 3,150 m3Phuc An Maritime Joint Stock Company, approximately 3,230 m3, Luu Nga Company Limited 2,305 m3and other wholesale and distribution traders approximately 80,000 m²3.
