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Post-Tet food prices drop, belying expectations

Update: February, 06/2014 - 09:25
The prices of pork, fish and chicken are now between VND10,000-20,000 per kilo less than the pre-Tet period.— Photo epress

HA NOI (VNS)  — Contrary to expectations, food prices have decreased considerably over the past few days despite the lunar New Year (Tet), according to a report by the Voice of Viet Nam (VOV) radio.

Many traditional markets opened on February 1 – the second day of the lunar New Year, but the purchasing power was rather weak.

On February 4, food prices at Ha Noi 's retailed markets were lower than those in the pre-Tet period. Bui Thi Ly, a shopkeeper at Nghia Tan market, attributed the limited purchasing power to an abundant supply of meat, fruit and vegetables favoured by warm weather.

The prices of pork, fish and chicken are now between VND10,000-20,000 per kilo less than the pre-Tet period.

Wholesale traders said food prices are stable because of a high inventory level during the Tet holiday. After taking in excess meat, most households prefer using vegetables for their daily meals, and an increase in vegetable supplies has kept their prices remain unchanged.. — VNS

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