Almost all food producers in southern hub Ho Chi Minh City are scaling up output in anticipation of the buying rush that accompanies the traditional Tet festival, according to the city’s Department of Trade.
Trade officials expect purchases in the city to increase 20-30 per cent over the previous Tet season, adding that some essential goods could see slight price increases due to unusual gold and oil price fluctuation and the year’s epidemics and natural disasters.
The deputy head of the finance ministry’s market and Price Study Institute Ngo Tri Long, attributed price hikes to Tet bonus payments made to local workers, which also increase purchasing power.
In an effort to stabilize market prices and ensure supplies for Tet, companies in the city have begun to stockpile popular Tet products like meat, processed foods and confectioneries.
Vissan, the country’s largest meat product supplier, plans to distribute some 5,000 tons of pork, beef and processed meat products in the city by Tet, on Feb 17.
HCM city’s seafood processing companies also plan to supply more than 3,500 tons of frozen seafood for Tet meals.
Meanwhile, Kinh Do said it is ready to sell 3,000 tons of baked goods leading up to the festivities, chiefly high quality cookies and sweets.
Le Thi Thanh Lam, vice director of the Sai Gon Food Joint Stock Co. said the company will supply 100-150 tons of processed seafood products, including high quality salmon products like filets rolled with herbs.
The company will market seafood products at VND30,000-32,000 per 500gr, salmon with spaghetti at VND17,000 per 330gr, and salmon snacks at VND43,000 for 300gr.
Ut Xi Aquaculture Processing Joint Stock Co., a shrimp exporter based in the Mekong Delta province of Soc Trang also intends to provide the local market with new products, such as powdered shrimp paste and shrimp kebabs, priced at VND20,000-30,000.
Experts estimated that HCMC will consume around 4 million chickens over Tet, some 1.8 million already in supply.
To help meet holiday demand, city authorities have provided VND261 billion ($16 million) in non-interest loans to poultry processing enterprises.
Large food companies such as An Phu Sinh and Huynh Gia Huynh De plan to fill the market with nearly 500,000 tons of safe poultry products at a stable price of VND45,000 per kilo.
Whilst 99 Poultry Co, for the first time, will provide Vietnamese market with processed products like seasoned chicken breasts, chicken kebabs and breadcrumb-coated chicken filets.
The number of frozen chickens imported from the US, Brazil, Australia, Argentina, and New Zealand will also increase by 30-40 per cent before Tet.
Experts predicts duck egg prices to increase by 20 per cent as mass bird flu vaccination procedures in the Mekong Delta have cut egg output in half.
The city’s Market Management Board also intensified shop and market inspections to prevent speculation, fake goods, and trade fraud, and to ensure food safety during Tet. (VNS)
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