Nguyen Thi Hong, deputy chairwoman of the Ho Chi Minh City People’s Committee, led a recent delegation to check up on city enterprises participating in a price-stabilization program ahead of the upcoming Tet (lunar New Year) holiday.

Shopping at  a supermarket (Photo: SGGP)

According to the businesses, there will be an ample supply of traditional Tet goods available ahead of the busy season, while the price of many items has declined by up to 10 percent over last year.

At Ho Chi Minh City Food Company (Foocosa)’s FoocoMart on Tran Hung Dao Street in HCMC’s District 1, the cost of essential goods are being kept stable in accordance with Department of Industry and Trade regulations.

Mr. Huynh Cong Thanh, director of Foocosa said the company will provide 2,500 tons of rice at VND8, 000-13,500 per kilo during Tet, and the prices of other essential items at 40 company minimarts will remain fixed.

Director General of the Vinh Phat Investment Joint Stock Company, Tran Ngoc Trung, said his company will supply 2,200 tons of rice at reduced costs of 5-10 percent. However, special types of rice will increase from 10-12 percent.

According to the Phu An Sinh Food Processing company, prices of chicken and pork are down by 10-12 percent in comparison with last year. A kilo of two types of chicken costs VND44,000-80,000 while a kilo of three kinds of pork range from VND35,000-68,000.

Duck and chicken eggs at the Vinh Thanh Dat Company are now sold at VND2,500-1,550, said a company representative, adding that the company may be offered 10 millions of eggs during Tet.

Ms. Hong of the city People’s Committee said the zero percent interest rate on loans given to participating businesses in the Tet price-stabilization program has achieved great successes over the past six years.

Companies have also invested in modern machinery and equipment to efficiently manufacture products that ensure food and safety quality, she added.

City authorities say they plan to develop a price-stabilization program to maintain prices year-round.