Lunar New Year Festival: CPI in Hanoi's One-digit Increase
Mr. Vu Vinh Phu, Deputy Director of Hanoi Trade Department (HTD), addressed the 12th December meeting of HTD, other Provincial Trade Departments and enterprises' representatives on the supply of goods during the Lunar New Year Festival in Hanoi and stated that the consumer price index in Hanoi would see a one-digit increase.
According to Mr. Phu, the distribution and circulation of goods during the coming Lunar New Year Festival (Tet) should ensure sufficient supplies of all categories to meet the demands of the people in Hanoi and adjacent provinces. Therefore, it is important to establish uniform trade coordination between the provinces of Nam Dinh, Ha Nam, Hai Duong and Hung Yen to the effect that goods are circulated in two-way trade and the provincial consumers have more choices of commodities during the Lunar New Year Festival. According to the Hanoi Statistical Bureau, the Consumer Price Index (CPI) in November has increased by 0.2 per cent against October. While the cost of post and transport services significantly augmented, the price of foodstuffs only saw a mild increase. Mr. Phu observed that nowadays, Hanoi people tend to buy goods of credible quality and famous brand names. That’s why the turnover of supermarkets is on the rise. For example, during the Lunar New Year Festival in 2004, the daily sales of Intimex Supermarket reached VND1.8 billion; other small-size supermarkets also recorded a turnover of VND70-80 million per day.
In an effort to stimulate and meet the people's demand for commodities during the Lunar New Year Festival, most enterprises have introduced various new products and intensified production capacity by 20 per cent. According to the HTD's estimates, the price of foodstuffs may increase at the most by 20-25 per cent during the Lunar New Year holiday but this rise will not last long. However, a mild price increase is expected at 5 per cent as compared to normal days.
According to the Director of Hung Yen Provincial Trade Department, Hung Yen will increase the supply of its local specialties such as sweet orange, sticky rice, fragrant rice, ornamental plants, vegetables and other fruits to Hanoi markets. This coordination will help satisfy the Hanoi people’s demand for 19800 tonnes of rice, 7,000 tonnes of pork meat, 21,000 tonnes of sea products, and 21,600 tonnes of vegetables during the Lunar New Year holiday.
Also during Tet, the demand for confectionery (biscuits, jams, candies), wine and beer is always on the rise. Therefore, by now the Hanoi Liquor Company has reserved 1.5 million litres of wine; the Kinh Do Confectionery Company prepared 2,000 tons of candies and biscuits; and Vinabico 800 tonnes of confectionery. Mrs. Thanh Tu, General Director of Hanoi Food Corporation said that the company has increased its food reserves by 20 per cent as compared to last year, including 250 tonnes of cooking oil, 240 tons of sausages, 80-100 tonnes of vegetables and more than 300,000 bottles of fish sauce and vinegar. Besides, enterprises also have reserves of materials in case that the people’s consumption rockets up.
Generally, the supply of goods from other provinces to Hanoi is in large amount, accounting for the 50-60 per cent of the total. Therefore, according to Mr. Nguyen Thanh, Deputy Head of Hanoi Police, all communication and transport activities will be undertaken in the close coordination between enterprises and relevant agencies such as trade departments, police, and market management bodies so as to facilitate smooth circulation of commodities during the Lunar New Year holiday.
The Hanoi Trade Department is convinced that with close coordination between Hanoi and related provinces, the supply of goods will increase by 20 per cent and will be abundant in terms of quantity and variety to meet the consumption needs of 3.1 million people in the capital for a happy Lunar New Year festival.
Vietnamese
