The prices of many essential commodities have begun to decline since early May, due to the balance of supply and demand, according to the Industry and Trade Information Center under the Ministry of Industry and Trade.

 Particularly, food prices, especially of beef and chicken have remained stable while pork prices in some localities have fallen by VND2,000-VND6,000 a kilo to VND54,000-VND55,000 a kilo.

 Fruits and vegetables have seen strongest decrease in prices thanks to an abundant supply. The prices of cabbage, tomato and China squash in particular have dropped by VND1,000-VND2,000 a kilo.

 Sugar prices have also dropped by VND1.000 a kilo and now stand at VND23,000 a kilo. In the last week, the price of 5 percent broken rice has decreased by US$15 per ton to US$465-US$475 per ton while 25 percent broken rice has also reduced to US$425-US$440 per ton.

 Along with food and foodstuff, building material prices now remain stable. Rolled steel price at the factory stands at VND18.5mln per ton while steel bar price is about VND18.4mln per ton (including VAT). According to the Vietnam Steel Association (VSA), the domestic steel market will continue to be stable in June and July ahead.

 Whilst, the consumption of cement in the first 15 days of May reached 752,000 tons, down by 94,000 tons compared to last year’s same period. According to VSA, the consumption of building materials saw decrease over the past time, owning to some construction projects cut down and implementation of public expenditure reduction under the Government’s Resolution No.11.

 On May 20, the retail price of gas dropped by VND6,000/ 12kg tank. This adjustment aimed to subsidize customers amid escalating prices. Retail gas price now stands at VND376,000/per 12kg tank…

Reported by T.S-Translated by K.T