April 6, 2011

Vietnam city's meat price rises with petrol price hike

Many food products in Ho Chi Minh's markets such as pork, fish and poultry have increased their rates by 5-20% a week following the hike in petrol price.

Pork meat has increased by 20% compared with last month. Other fresh produces such as chicken, beef and seafood have increased from VND2,000-10,000 (US$0.10-$0.48) per kilogramme.

At Phung Hung market, the price of blue fish has increased from VND35,000-45,000 (US$1.67-$2.15) per kilogramme. Poultry prices have also increased from VND4,000-6,000 (US$0.19-$0.29) per kilogramme.

According to representatives from supermarkets across the city, since the beginning of March, they have received notices about price hikes from suppliers, mainly from the food processing industry, household goods and cosmetics. Besides, many goods in supermarkets were re-adjusted with an incremental price increase.

Supermarkets such as Co.opMart, Big C and Citimart are presently holding talks with suppliers to offer promotional programmes in order to share the cost burden with customers.

However, a price difference of VND1,000-10,000 (US$0.05-$0.48) per kilogramme exists on some food products sold in supermarkets from those in the outside markets.