Contrary to expectations, food prices have decreased considerably over the past few days despite the lunar New Year (Tet) – the largest festival of the year. A report by Radio the Voice of Vietnam (VOV).

Many traditional markets opened on February 1 - the second day of the lunar New Year, but the purchasing power was rather weak.

On February 4, food prices at Hanoi ’s retailed markets were lower than those in the pre-Tet period. Bui Thi Ly, a shopkeeper at Nghia Tan market, attributed the limited purchasing power to an abundant supply of meat, fruit and vegetables favoured by warm weather.

The prices of pork, fish and chicken are now between 10,000-20,000 VND per kilo less than the pre-Tet period.

Do Thi Duyen, a wholesale trader, said food prices are stable because of a high inventory level during the Tet holiday.

After taking in excess meat, most households prefer using vegetables for their daily meals, and an increase in vegetable supplies has kept their prices remain unchanged.-VNA