Customers shop at a supermarket in HCM City. Many businesses have begun to produce goods and stock up for Tết (Lunar New Year) 2024. — Photo courtesy of Saigon Co.op

HCM CITY — Many businesses have begun to produce goods and stock up for Tết (Lunar New Year) as usual a few months before the country’s biggest festival comes around.

Nguyễn Đăng Phú, deputy general director of Vissan JSC, which processes and sells fresh and frozen meat and processed foods, said the company has earmarked VNĐ700 billion (US$28.7 million) to stock about 2,000 tonnes of fresh foods, mainly pork, and 4,200 tonnes of processed foods, around the same as last year.

Phan Quốc Hoàng, director of Đà Lạt-based Thảo Nguyên Xanh Company, which sells vegetables, fruits and food specialties, said his company would increase the supply of agricultural produce to supermarkets and stores in HCM City by 20-30 per cent.

Large retailers are preparing an assortment of items commonly consumed during Tết to ensure sufficient supply.

Nguyễn Ngọc Thắng, Saigon Co.op’s marketing director and director of Co.opmart’s operations division, said Saigon Co.op has been working with producers and suppliers since mid-2023 to ensure supply of goods is 30 per cent higher than last year and 50 per cent more than on normal days.

Other supermarket systems such as Go!, BigC, Tops Market (under Central Retail Vietnam), MM Mega Market, and Satra are also busy preparing for the year-end shopping season.

Nguyễn Thị Bích Vân, head of communications at Central Retail, said supermarkets started to prepare for Tết a few months ago, mainly focusing on agricultural and essential consumer goods from across the country.

Some suppliers have asked to increase prices, she said.

Small traders at three agricultural and food wholesale markets, Bình Điền, Thủ Đức and Hóc Môn, started preparing for Tết a few months ago.

They have carefully selected goods sources, with some of them even hiring agricultural engineers to manage and supervise the entire process of growing fruits and vegetables.

Goods entering the market continue to be screened through a quick testing process.

Nguyễn Nguyên Phương, deputy director of the city Department of Industry and Trade, said programmes have been organised regularly to enhance co-operation with other provinces and cities to bring safe products for city consumers.

The city has made plans for Tết 2024 and its market stabilisation programme since the beginning of 2023, and so consumers do not have to worry about sudden price increases, he assured.

Many businesses said demand would not rise too steeply during New Year and Tết holidays.

With the economic situation forecast to remain difficult, consumers would continue to tighten their purse strings, they added. — VNS