April 5, 2022

Ho Chi Minh City, Vietnam livestock, poultry, and egg prices up

Prices of livestock, poultry, and eggs have increased between 2% to 12% in Ho Chi Minh City, Vietnam from April 1 because of soaring fuel prices, Vietnam Economy News reported.

The city's Department of Finance said local businesses have urged to increase prices of beef by 2-3%, chicken by 6-12%, and eggs by 6-8%.

The businesses said 70% of the total costs come from transportation.

The business have participated in Ho Chi Minh's City's price stabilisation programme for the past two months, which aim to maintain stable prices and avoid price fluctuations for two months.

The Department of Finance and other authorised departments and sectors have planned to meet with businesses to reach an agreement to maintain steady prices steady and announce these prices in early April.

Nguyen Nguyen Phuong, deputy director of the Ho Chi Minh City's Department of Industry and Trade, said the businesses must prove their input costs have gone up by 2-5% to register for a price adjustment.

Ly Kim Chi, president of the Food and Foodstuff Association of Ho Chi Minh City (FFA), said costs of production materials and logistics have gone up. He also said export costs have also risen due to rising air transportation costs, reducing the competitiveness of local products.

-      Vietnam Economy News