Business

HCMC’s foodstuff production, processing continues to post good growth

SGGP
According to the Department of Industry and Trade of Ho Chi Minh City, the food, foodstuff, and beverage processing industry in the first nine months of this year increased by 1 percent while it only edged up 0.7 percent in the same period last year. 
Of these, foodstuff processing was estimated to surge by 3.4 percent while it went down 3.1 percent in the same period last year. It has become the brightest spot in the situation of industrial production of the city.

According to the report by the Food and Foodstuff Association of HCMC, although the export turnover of processed foodstuff products is only equal to 30-40 percent of that during the time before the Covid-19 pandemic, enterprises still maintains stable production. Retail sales of food and foodstuffs in the first nine months was estimated at VND103.88 trillion, up 11.9 percent over the same period last year, accounting for 11 percent of the total retail sales. Meanwhile, the proportion of retail sales of food and foodstuffs in the same period in the previous year was 9.6 percent.

In October this year, amid the context of widespread flooding in the central provinces, HCMC-based enterprises in the fields of foodstuff and essential goods processing, such as life jackets and pharmaceutical products, continue to increase capacity to ensure the supply with stable selling prices for people in flooded areas.

On the other hand, manufacturers are preparing raw materials to produce products for the Lunar New Year. At the same time, they are proposing support in forecasting the market situation to timely balance production and promoting export to the European market to take advantage of opportunities brought by the EU-Vietnam Free Trade Agreement.

By Kim Chung – Translated by Thanh Nha

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