MARD: Food, Foodstuff Demand to Rise 40 per cent as Tet Nears

The Vietnamese Ministry of Agriculture and Rural Development-run Center of Information has forecast that demand for food and foodstuff during Lunar New Year festivity will increase 38.3 per cent, lower than 50 per cent-60 per cent of previously years, Vietnam Television-run VTCNews said.

 

MARD's Center of Information said after it has recently conducted a survey.

 

Demand for food and foodstuff in Ho Chi Minh City will jump 52.5 per cent while in Hanoi surge 26.9 per cent. Demand for beef and pork will likely jump 45 per cent, seafood products sharply increase.

 

Prices of food and foodstuff are forecast to rocket because local husbandry sector has been facing rising animal feeds, impacts of prolonged cold snaps while the government is curbing imports to narrow trade deficit.

 

Vietnam's Ministry of Finance has issued a regulation to stabilize prices of 15 items. (www.vtc.vn)