Fuel costs trigger commodity rises

A pork processing line at VISSAN Co Ltd in HCM City. Commodity prices are expected to rise by 5 to 15 per cent in October, following higher costs for petrol, gas and other items in recent days. — VNA/VNS Photo Thanh Vu

HCM CITY (VNS)— Commodity prices are expected to rise by 5 to 15 per cent in October, following higher costs for petrol, gas and other items in recent days, according to supermarkets in HCM City.

Local supermarkets said that suppliers had asked them to increase prices of some goods.

Nguyen Phuong Thao, director of Maximark Cong Hoa, told Lao Dong (Labour) newspaper that about 20 commodity suppliers had asked for an increase of 5 per cent, beginning in October.

A representative from the Co-opmart supermarket chain said 10 suppliers had asked for higher prices, particularly for garments and cosmetics.

The Citimart chain of stores, on the other hand, said, compared to other supermarkets, it had received more price-increase requests.

About 100 suppliers of processed food, cosmetics and home products had increased prices by 10-15 per cent, the Citimart representative said.

Because of ongoing low sales, the supermarkets feel pressured into increasing prices, but they are beginning to reconsider the level of acceptable prices.

Thao said that retailers were hesitant to add these suppliers' increases to their retail prices because it would affect their sales.

Many retailers are trying to keep the old prices, and some are accepting losses to solve the problem of too much inventory.

In Ha Noi, meanwhile, there has been no indication of price increases at supermarkets.

Dao Van Ky, who works at Minh Hoa supermarket, said the price of most foodstuff in his supermarket such as meat, egg and fish had remained stable, except for vegetables, which had seen price hikes because of rainy weather.

A representative of the Viet Nam Agricultural Products and Foodstuff Company said the price of transportation had also risen following petrol and gas hikes.

However, he said, only small suppliers wanted to increase prices. The big suppliers, who provide products to schools and supermarkets, were trying to keep prices stable.

He also said that his company would ask the authorities to offer more financial support to domestic breeders because the price of imported pork and chicken has been lower than locally-bred products. — VNS

A pork processing line at VISSAN Co Ltd in HCM City. Commodity prices are expected to rise by 5 to 15 per cent in October, following higher costs for petrol, gas and other items in recent days. — VNA/VNS Photo Thanh Vu

HCM CITY — Commodity prices are expected to rise by 5 to 15 per cent in October, following higher costs for petrol, gas and other items in recent days, according to supermarkets in HCM City.

Local supermarkets said that suppliers had asked them to increase prices of some goods.

Nguyen Phuong Thao, director of Maximark Cong Hoa, told Lao Dong (Labour) newspaper that about 20 commodity suppliers had asked for an increase of 5 per cent, beginning in October.

A representative from the Co-opmart supermarket chain said 10 suppliers had asked for higher prices, particularly for garments and cosmetics.

The Citimart chain of stores, on the other hand, said, compared to other supermarkets, it had received more price-increase requests.

About 100 suppliers of processed food, cosmetics and home products had increased prices by 10-15 per cent, the Citimart representative said.

Because of ongoing low sales, the supermarkets feel pressured into increasing prices, but they are beginning to reconsider the level of acceptable prices.

Thao said that retailers were hesitant to add these suppliers' increases to their retail prices because it would affect their sales.

Many retailers are trying to keep the old prices, and some are accepting losses to solve the problem of too much inventory.

In Ha Noi, meanwhile, there has been no indication of price increases at supermarkets.

Dao Van Ky, who works at Minh Hoa supermarket, said the price of most foodstuff in his supermarket such as meat, egg and fish had remained stable, except for vegetables, which had seen price hikes because of rainy weather.

A representative of the Viet Nam Agricultural Products and Foodstuff Company said the price of transportation had also risen following petrol and gas hikes.

However, he said, only small suppliers wanted to increase prices. The big suppliers, who provide products to schools and supermarkets, were trying to keep prices stable.

He also said that his company would ask the authorities to offer more financial support to domestic breeders because the price of imported pork and chicken has been lower than locally-bred products. — VNS