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Economy
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| Sand mining in the Đồng Nai River in Biên Hoà City. — VNA/VNS Photo Hoàng Lâm |
Viet Nam News
HCM CITY — Sand exports are continuing to increase though there is not enough sand for the domestic market, and many traders are taking advantage to push up prices and make a killing, the HCM City Department of Construction said.
Speaking at a meeting with construction department officials from southern provinces in Long An Province on November 17, Nguyễn Ngọc Thanh, head of the city department’s Construction Materials Division, said since the second quarter, natural sand prices have increased sharply, especially in HCM City.
In recently, the price of sand for concrete production in the city has gone up over three times from around VNĐ220,000 (US$11) per cu.m on March 31 to VNĐ727,000 ($32), she said.
The current sand price is up from VNĐ695,000 ($30) per cu.m on May 22, VNĐ510,000 ($23) on April 30, and VNĐ320,000 ($14) on April 8, according to building material shop owners in the city.
The reason for the price jump is that authorities around the country are cracking down on sand mining and there is no other material to replace natural sand while demand from the real estate market is very high, she said.
It is necessary for authorities to monitor all building materials suppliers to prevent speculation and market manipulation to bring down sand prices, she said.
The city construction department has called for greater oversight of businesses by the Ministry of Industry and Trade to promptly crack down on speculation and market manipulation. — VNS
