Goods market for Tet: Prices remain stable

Early February 15, provincial Department of Industry and Trade said that the market for goods serving the 2024 Tet (Lunar New Year) festival in the province was quite abundant. Essential consumer goods such as rice, sticky rice, sugar, cooking oil, meat, fish, cakes, candy, jam, sausage, beer, wine...were prepared by traders in advance to meet people's needs for shopping.

In towns and cities, people's Tet shopping trend focused on shopping malls, supermarkets and convenience stores, due to diverse products, good quality and stable prices with many choices, reducing the load on traditional markets.

Shopping centers and supermarkets are bustling with customers during Tet

Particularly at traditional markets, trading activities were also bustling in the days leading up to Tet, with purchasing power increasing sharply... Prices listed by small traders were relatively complete, with increases and decreases, but in accordance with the market’s law of supply and demand. Pork products increased from VND 5,000 to VND 50,000 per kg depending on type and location. Fruit and vegetable items increased from VND5,000 - VND 20,000 per kg. The prices of fresh flowers and other decoration items for Tet also increased slightly, depending on the time.

Essential items accounting for over 50% of market demand were food, processed foods, meat, poultry, vegetables, jams, soft drinks, beer and gasoline with a total value of goods stockpiled before, during and after the Tet festival 2024 being more than VND 2.25 trillion, creating a sufficient supply of goods to stabilize the market.

Purchasing power in the days leading up to Tet at province-based markets and supermarkets increased from 1 to 1.2 times compared to normal days. Specifically, the sales of Coopmart II supermarket, Aeon Binh Duong Canary Supermarket…reached between VND 1 billion and VND 1.2 billion per day, between VND 2.5 billion and VND3.8 billion per day, respectively... Provincial Department of Industry and Trade conducted supermarkets and businesses to stockpile goods  to stabilize the local market, committing to ensuring quantity and selling at the registered stabilized prices which are 5%-10% lower than the market prices to promptly adjust prices when there are fluctuations.

After the Tet holiday, the local supply chain system of essential goods and traditional markets has all reopened from the 2nd to the 4th of the Lunar New Year.

Reported by Minh Duy-Translated by Kim Tin