​Pressure to increase prices of many essential goods

For dairy products, 3A Nutrition Co., Ltd (Vietnam) has also announced to increase the selling price of 10 products (within 5%) from the beginning of November 2021. Specifically, Pediasure vanilla flavored milk 850g box is priced at 665,500 VND/can, Pediasure vanilla flavored milk 1.6 kg box is priced at 1,123,100 VND/can... With a price increase of several tens of thousands of VND a can of milk many consumers consider switch to lower priced domestic milk.

A large supermarket system in the city. Ho Chi Minh City also said that from the beginning of October 2021 up to now, many manufacturers and suppliers have also submitted proposals to increase selling prices, focusing on food, technology, and fresh products with the same reason. due to increase in raw material prices and input costs.

A large supermarket system in the city. Ho Chi Minh City also said that from the beginning of October 2021 up to now, many manufacturers and suppliers have also submitted proposals to increase selling prices, focusing on food, technology, and fresh products with the same reason. due to increase in raw material prices and input costs.

A representative of Saigon Co.op said that a number of suppliers had contacted to ask to increase the selling price, but the supermarket had asked to keep the price according to the previously signed contract. In order to reduce the price increase pressure, especially for consumers after the severe impact of the epidemic, the prices of many items in the system are currently not increasing or even decreasing compared to before due to the application of promotional programs, raise the demand.

Efforts to suppress commodity price increases

Estimates of economists predict that the upward pressure in the rest of 2021 will be very large. The main reason is that the cost of input materials in all fields, from animal feed, fertilizer, construction materials to transportation, logistics, gasoline, etc., in the country have increased sharply.

According to Mr. Do Quoc Huy - Director of the business department of the Union of Trade Cooperatives of Ho Chi Minh City. Ho Chi Minh - SaiGon Co.op The price increase is inevitable because all input costs from imported and domestic raw materials have skyrocketed in recent times. The prices of vegetables and fruits are also increasing slightly due to the inverse season, low output and high loss rate. The most basic solution to both support consumers to save money and help suppliers and distributors sell goods is to promote promotions. Currently, Saigon Co.op will focus on big and continuous promotions. Hopefully, after the promotion, consumers will get used to the new price level.

According to Mr. Le Huynh Minh Tu - Deputy Director of the Department of Industry and Trade of Ho Chi Minh City. In Ho Chi Minh City, manufacturing enterprises and distribution systems have been planning for Black Friday, Christmas and New Year occasions, ready to source goods with many attractive price incentives for customers. The supplier has good reason to propose a price increase. Distributors with the role of sales intermediaries are calculating to balance the interests of the parties, especially without too much influence on consumers. Currently, purchasing power is still not equal to the first 6 months of the year, customers only focus on buying essential products.

According to the assessment of the Ministry of Industry and Trade, in the coming time, the situation in the world and in the country can achieve herd immunity, causing the economy to recover strongly along with the prices of many commodities such as gasoline, oil, coal on the world market. A sharp increase in world prices will put great pressure on inflation... The increase in prices of commodities such as gasoline, coal, etc. will affect production costs, increase the price of domestic consumer goods, and affect directly affect people's lives, affecting the competitiveness of Vietnamese enterprises when exporting to other countries.

In order to control inflation and ensure the supply of goods, the Ministry of Industry and Trade will continue to closely monitor prices. In particular, it is necessary to assess which materials are likely to be short-term temporarily or in the long-term in the country, so that appropriate response policies can be devised. At the same time, prepare conditions to promote production and business, ensure supply and circulation of goods, and reduce inflationary pressure.

Source: Industry and Trade Newspaper