The domestic beer market this Tet (lunar New Year) holiday will not face any shortages or price hikes, thanks to a 30 percent supply increase, confirmed producers around the country.

Vietnam Investment Review (VIR) quoted Le Ngoc Dao, Deputy Director of Ho Chi Minh City's Department of Industry and Trade, as saying that the reported retail shortage over the last few days in HCM City is a ruse – the supply for this longest and most important annual festival had in fact increased by 20-30 percent.

Owing to this, there should be no shortages. Consumers must be careful when buying beer and not get tricked into paying more than they should, she told the newspaper.

The Sai Gon Beer Alcohol Beverage Joint Stock Corporation (Sabeco)'s yield this Tet has increased by 20 percent compared with that last year. Moreover, the corporation has already distributed the holiday orders to their retailers.

Guaranteeing sufficient supply for distributors and not increasing the price have stabilised the market, chairman Phan Dang Tuat said.

The Hanoi Beer Alcohol Beverage Joint Stock Corporation (Habeco) who accounts for 80 percent of Hanoi's beer market said that it will supply more than 140 million litres of beer this Tet, a year-on-year rise of 13 percent.

Director Nguyen Hong Linh said that this will be more than sufficient to meet demand and there will be no case of shortages.

Like Sabeco, Habeco said they did not increase the price of any of their products.

It costs about 190,000 VND (9 USD) per barrel of Hanoi Beer. The company also ordered their distributors to strictly adhere to the price structures.

A company that supplies famous brand-name beers also confirmed they intend to meet the demand and keep the price stable.-VNA