MoIT assures sufficient supplies of essential goods for domestic market

Domestic retailers are mounting stockpiles of essential goods in response to the COVID-19 pandemic. (Photo: VietnamPlus)

Hanoi (VNA) – The Ministry of Industry and Trade (MoIT) has assured local consumers that there are sufficient supplies of essential goods at stable prices, following panic buying sparked by the COVID-19 outbreak.

Local departments of industry and industry nationwide have directed distributors to ensure adequate supplies of essential goods for the domestic market, a representative from the ministry said.

As the world’s major exporter of agricultural products, Vietnam can basically satisfy demand of local people for essential consumer goods, he said, adding that as long as people remain calm and do not rush to stock up necessities, there will be always enough goods for everybody, even amidst the pandemic.

Suppliers increase stocks of essential goods

According to the MoIT, domestic retailers have seen dramatic surges in demand for essential goods in the wake of the COVID-19 so they have increased inventories to prepare for a possible outbreak.

“Some goods may be temporarily out of stock but we'll soon be able to meet the soaring demand,” said Tran Duy Dong, head of the MoiT's Department of Domestic Market.

Since the pandemic broke out, BigC, one of Vietnam’s leading supply chains, has tripled its stockpiles at all warehouses to prevent speculation and price hikes.

Nguyen Thi Phuong, Deputy General Director of Central Retail Group, owner of the Big C supermarket network in the country, said suppliers have been told to increase delivery frequency and the number of staff has been increased to better serve customers.

Other major supermarket chains including Saigon Co.op and Vinmart, said they have also raised stocks by 50 – 200 percent to meet market demand.

Saigon Co.op has dispatched adequate stocks only to its stores in Ho Chi Minh City but also in Hanoi and the central region.

Meanwhile, Lotte Mart and MM Mega Market Vietnam said right from the beginning of this year, they have closely cooperated with suppliers and farmers from other provinces to stablise their stocks and prices of essential goods.

In supermarkets, essential goods, such as rice, vegetables, fruits, noodles, meat and spicies are plentiful in stock with stable prices and clearly listed.

Duong Thanh Tam, Deputy General Director of Vincommerce, owner of the Vinmart and Vinmart+ retail system, said the chain has 18 farms nationwide which can provide enough vegetables and pork for around 200,000 – 400,000 households daily.

Director of a major supermarket chain in Bac Ninh, Dabaco, Dieu Quoc Hung said in response to the pandemic, Dabaco has expanded its stockpiles by 2.5 – 3 times against normal days to meeting soaring local demand.

The company can supply to the market millions of chicken eggs and 10 – 15 tonnes of rice in a week, he said.

This year’s total meat output in Vietnam is forecast to increase 10 percent year-on-year. (Photo: VietnamPlus)

The MoIT forecast that the country’s paddy output will reach 43.3 million tonnes, equivalent to 26 million tonnes of rice, this year. As the domestic demand will stand at around 19 – 20 million tonnes, there will be 6 million tonnes for exports.

The total live meat output, meanwhile, is expected to be around 5.5 – 5.8 million tonnes in 2020, an increase of 10 percent from last year. The figure includes about 3.5 million tonnes of live pork, 1.36 million tonnes of poultry and 0.48 million tonnes of beef and buffalo meat.

The volume is able to feed about 100 million people, not to mention aquatic products with an output of 8.2 million tonnes per year, according to the MoIT.

This year, Vietnam grows vegetables on a total area of 960,000 hectares for an expected output of 17.18 million tonnes, 100,000 tonnes higher than the previous year. The total output of vegetables and fruits will be around 40 – 50 million tonnes, capable of meeting domestic demand./.