Year-end market always faces complicated developments in prices. Hence, Binh Duong will attach special importance to ensuring adequate supply of goods, limiting speculation and hoarding of goods…to stabilize prices of essential goods before, during and after the 2014 Tet (Lunar New Year) holiday. 

The province’s price stabilization program focuses on essential goods

According to most enterprises participating in the price stabilization program of the province, there will be few fluctuations of essential goods during the 2014 Tet holiday. This is because they have had good preparation for supply of essential goods to serve the local people’s demand for shopping during the upcoming holiday.

Vo Huu Thach, Director of Binh Duong-based Co.opMart supermarket said that his supermarket has taken initiative in working with producers to ensure sufficient supply of essential goods under the price stabilization program. Their prices will be kept stable before, during and after the 2014 Tet holiday by the supermarket.

Big C supermarket’s two branches of Di An and Binh Duong expect to take part in the market price stabilization for the 2014 Tet festival with 6,475 tons of pork, 2,015 tons of beef and 5,155 tons of various processed food to be supplied for the local customers. There is an increase by 15% in the amount of goods compared to the 2013 Tet holiday. So far, Big C has completed its plan on preparing supply of essential goods to participate in the price stabilization program for Tet.

Some companies, namely Vissan, Ba Huan, Tien Hung…, have had good preparation for their poultry eggs, fresh food…to participate in the price stabilization program of the province for the first time. There will be an increase by 20% in the amount of Vissan’s goods compared to the 2013 Tet. It is expected that Binh Duong-based Vissan stores have planned to supply various processed food valued at more than VND4bln for the local market this Tet. Vissan will ensure supply of hi-quality goods with stable prices during the upcoming Tet festive season.

This year, bad weather has also affected fruits and vegetables that are among essential goods for Tet. Source from retailers said that some supermarkets, including Big C and Co.opMart, have made efforts to ensure supply of fruits and vegetables with reasonable prices and good quality. Accordingly, their plan to supply fruits and vegetables for the local market during the 2014 Tet holiday is ten times higher than the previous Tet with a total value of nearly VND49bln. Big C Binh Duong, Big C Di An and Co.opMart Binh Duong have planned to prepare a large number of fresh fruits during the month of the upcoming Tet holiday that is double compared to the figure registered.

According to Vo Van Cu, Director of provincial Department of Industry and Trade (DoIT), the province’s price-stabilized goods in 2014 include rice, sugar, cooking oil, poultry, poultry eggs, fruits and vegetables, and processed foods…Provincial DoIT will further mobilize more enterprises to participate in the 2014 price stabilization program, which is expected to begin from November 2013 to February 28, 2014.  It will be further implemented for the rest of 2014 with total value of price-stabilized goods (except petrol) amounting to more than VND604bln, up VND100bln against that of 2013.

The province’s 2014 price stabilization program has so far absorbed 12 enterprises registering for participation, up 3 compared to 2013. Goods under the program are always at prices 5-15% lower than market levels. According to Mr.Cu, participating enterprises will expand their mobile sale time from 2 to 3 days a trip in industrial parks and remote areas of the province and ensure enough supply of essential goods in the price stabilization program, especially for Tet festive season.

Provincial DoIT has also announced a draft report on the 2013 price stabilization program. Accordingly, there was an increase of 20%-100 in the amount of price-stabilized goods with total revenue of VND586bln or 116% of the year’s plan and up 28.5% compared to the corresponding period last year.

Reported by Truc Huynh-Translated by K.T