Stabilizing market prices during New Year Festival

(VOV) - Deputy Prime Minister Hoang Trung Hai has asked ministries and agencies to stabilize the prices of essential commodities during the coming traditional New Year Festival (Tet).

Addressing a conference held by the Ministry of Agriculture and Rural Development (MARD) in Hanoi on December 5, Mr Hai stressed the need to ensure an adequate supply of commodities to prevent price hikes.

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According to the Vietnam Food Association (VFA), more than 1,200 price stabilization shops have been set up in all provinces and cities across the country with 1.44 million tonnes of rice and a huge volume of other essentials such as sugar, milk, cooking oil, processed food, and noodles already in stock.

In the northern region, market prices remain under control despite a drop in meat output compared to last year due to the spread of epidemics like bird flu, blue-ear disease in pigs and foot and mouth disease in animals.

In the southern region, the prices of basic goods, especially raw meat, are predicted to rise 5-8 percent.

The MARD has provided assistance to provinces and cities to help them develop the breeding and aqualculture sector, combat epidemics, and prevent cross-border smuggling.

Participants in the conference raised their concerns over the smuggling of pork through the border. They said the shortage of meat on the local market might be caused by China’s purchase of Vietnamese pork at higher prices.

MARD Deputy Minister Vu Van Tam emphasized that it is urgent to control the prices of feed for animals which are growing by 10-15 percent.