Sunday, August 20, 2017 - 18:58:23

Price of foodstuff falls on back of ample supply

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The prices of foodstuff have dropped this month due to an abundant supply, many provincial officials have said.

This month, the prices of many processed foods, beef and chicken have remained stable while that of pork has dropped at many localities, according to price and market management authorities under the ministries of Finance and Industry and Trade.

In Hanoi , An Giang province and Can Tho City, the price of pork has dropped by 2,000 VND–6,000 VND per kg to between 54,000 VND - 55,000 VND per kg.

In Hau Giang and Tien Giang provinces, the prices of various kinds of pork have fallen 1,000 VND–3,000 VND per kg.

In Hanoi and Phu Tho Province, the prices of chicken and duck eggs have also dropped by 1,000 VND –2,000 VND per 10 eggs.

In addition, the prices of many kinds of vegetables in HCM City , Hanoi and Bac Giang Province have dramatically fallen compared to last week's prices.

The prices of vegetables like cabbage, tomato, China squash and others have dropped by 1,000 VND –2,000 VND per kg.

Rice prices have remained stable in northern provinces and started going down in southern provinces like An Giang and Hau Giang provinces, after many weeks of rising price.

The price of sea fish and river fish had dropped by 5 percent to 10 percent, or by 2,000 VND–10,000 VND per kg.

Prices were either cut or kept stable on other essential items, whose prices increased significantly during the second half of April.

For instance, the price of cooking oil now stands at 39,000 VND – 40,000 VND per litre after it had increased dramatically.

Nguyen Tan Phuong, director of Dong Nai Food Factory, said that pork is now very abundant, pulling down the price.

According to many owners of pig farms, the price of pork must remain at least 50,000 VND per kg to ensure profit and revenue for pig raisers. If they continue to lower the price under this range, they will incur losses.

Thanh Ha, deputy director of Tam Binh wholesale market in Thu Duc District, said traders must cut prices of many foodstuff to attract more customers. Otherwise, demand would be low and the traders would suffer losses as food reached its expiration date./.
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