Hanoi authorities planned to stock up goods to prevent commodity price hikes during the Tet holiday. 

A local resident is shopping at Big C Thang Long supermarket. Photo: Thanh Hai

The information was revealed on December 25 in Hanoi by leaders of the Ministry of Industry and Trade (MoIT) and the Ministry of Agriculture and Rural Development (MARD) at the meeting on stockpiling goods for the Lunar New Year 2021.

Mr. Tran Quoc Toan, Director of the Department of Agricultural Product Processing and Market Development (MARD) said, since the beginning of the year, cattle and poultry diseases have basically been controlled. With the stable cattle and poultry herds, meat supply is ensured.

Regarding the provision of other commodities for the Tet holiday, Mr. Tran Duy Dong, Director of the Domestic Market Department (MoIT), said that the MoIT has requested food stores and livestock breeders to map out plan to ensure the supply of pork.

Increase stockpiles of goods

Deputy Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan said the department asked local enterprises to stock up essential goods worth VND39.4 trillion (US$1.7 billion), an increase of 5% compared to the plan for the 2020 Tet.

Besides, local businesses are requested to stick with their plans of ensuring essential products as well as responding to the Covid-19 pandemic. By the end of November, 25 businesses of Hanoi and other provinces and two credit institutions pledged to work on ensuring supply of commodities for Hanoi during the upcoming Tet holiday.

The volume of essential goods for Tet will increase from 7% to 22% compared to the 2020 Tet. “The supply of goods is abundant, basically meets consumers’ demand,” Ms. Lan added.

According to the MoIT, Ho Chi Minh City enterprises have set aside VND19.7 trillion (US$851.5 million) to store goods for the two months of Tet, an increase of VND652.4 billion (US$28.2 million) compared to last year’s Tet.

In addition, a number of provinces such as Bac Giang, Cao Bang, Dong Nai, Hai Phong, Dong Thap also planned to stockpile goods in order to ensure market demand.

At the same time, the Department of Industry and Trade of Hanoi and other provinces and cities have closely monitored the production situation, disease evolution, especially African swine fever, and weather to work out preparation plans. 

They also pledged to continue promoting the campaign “Vietnamese buy Vietnamese products”, thereby supporting enterprises in production and sales.