Business

Ministries work on market stabilization in Tet holidays

SGGP
The Ministry of Industry and Trade yesterday worked with the Ministry of Agriculture and Rural Development to estimate supply and demand of necessary items such as rice, sugar, salt and food for market stablization in the coming Tet holidays.

Workers processing chicken to supply the market stabilization program at a plant of Ba Huan Company in Long An province (Photo: SGGP)

Workers processing chicken to supply the market stabilization program at a plant of Ba Huan Company in Long An province (Photo: SGGP)

According to the Ministry of Agriculture and Rural Development, rice prices fluctuated VND200-400 a kilogram in 2017 compared to the previous year but they were at reasonable and profitable levels for farmers in the Mekong Delta.
In the northern region, the prices slightly hiked sometimes but in general they were stable compared to 2016.
Current supply source is completely able to meet domestic consumption demand in the Tet Holiday.
The country has entered new sugarcane season so sugar price is forecast to be stable in the coming months despite of high sugar demand for confectionary and beverage production for the Tet holiday.
Food prices are expected to slightly move up in the Tet but there will be no big fluctuation because supply has been quite stable.
In December, pig prices swung from VND27,000-35,000 a kilogram, expected to hike near the Lunar New Year because of high consumption demand.
If there is no large weather change, vegetable supply will be enough for domestic demand. Pangasius fish prices have been up from early 2018 and now reaches VND25,000-27,000 a kilogram, bringing breeders a profit of VND4,000-6,000 a kilogram.
At the meeting, leaders of the two ministries agreed with intensifying cooperation among relevant agencies to supervise food production, supply and demand to prevent goods scarcity and price rocketing from occurring in days before, during and after the holiday.

By VAN PHUC – Translated by Hai Mien

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