At the Tet Preparation and Market Stabilization Conference in late 2022 and Lunar New Year of the Rabbit 2023, the Domestic Market Management Team said that the economy has gradually recovered after the Covid-19 pandemic, so people tend to buy more to buy . The commodity market is predicted to be much more active at the end of the year and the Lunar New Year than the same period last year.

REPRESENTATION OF FEATURE PRODUCTS INCREASED BY ABOUT 12%

In which raw material reserves are estimated to increase by 10-12% compared to the same period last year, mainly focusing on a number of key commodities such as rice, fresh food, processed food, edible oil, sugar High prices for input materials, prices too for important raw materials increased slightly this year compared to the previous year.

Economic forecasts have improved so people will be “aggressive” in spending on Tet shopping, estimated demand will increase by 8-10% compared to the same period last year. Regional specialties and high-quality goods are still in the interest of people when shopping and consuming.

The preparatory work for the new lunar year was urgently implemented by municipalities and companies. In some places like Ho Chi Minh City, Hanoi, Binh Duong, Binh Phuoc, Lam Dong… the Ministry of Industry and Commerce has already issued guidance documents in early November and is actively promoting the public implementation of Tet, advice actively the provincial and city people’s committee on the plan to prepare the source of goods. Pushing and supporting companies and closely coordinating with the relevant departments to implement the local Tet plan.

Ms. Tran Thi Phuong Lan, acting director of the Ministry of Industry and Trade of Hanoi, said Hanoi has issued 10 plans and guidance documents to stabilize the market to ensure the balance between supply and demand of goods. Especially for the preparation of goods and essential items for Tet, the total value of goods for Tet in the city is estimated at about VND 39,500 billion (increase of 15% with Tet service plan in 2021).

Companies in Hanoi have developed plans to exploit and increase the amount of essential goods for Tet, increasing by an average of 15% to 30% compared to the 2022 Tet Plan. Hanoi has launched 05 more border points, introduced and sold OCOP products, bringing the total number of OCOP product points to 85 points of sale of OCOP products across the city…

The representative of the Ministry of Industry and Trade of Ho Chi Minh City said that the city’s People’s Committee issued a resolution on a plan to stabilize the market at the end of the year and the Lunar New to ensure supply and demand and to stabilize the prices of essential goods in 2023. Accordingly, in the 2 months of Tet, enterprises have spent 22 trillion Dong of capital to prepare goods.

It focuses on commodities such as eggs, groceries, processed foods… The city currently has 46 commercial centers, 227 supermarkets and 3,000 convenience stores. The source of goods is forecast to increase by 2-3 times compared to normal months. Ho Chi Minh City also signed 600 memoranda of understanding with companies. In particular, companies that stabilize the market pledge not to increase the selling prices of essential goods before and after Tet.

At the Da Nang market, Mr. Nguyen Huu Hanh, deputy director of the Da Nang Ministry of Industry and Commerce, said consumer demand will increase in the coming period. In particular, the total reserve value of food and food for Tet is expected to increase to about VND1,850 billion. Including: 351.9 tons of rice, glutinous rice of all kinds; more than 4,000 tons of all kinds of meat (of which about 2,000 tons of pork), 645.7 tons of processed and canned foods, 287.6 tons of dry food, 798.3 tons of confectionery, jam and seeds of all kinds, 900 tons of assorted vegetables…

RECOGNIZE RISKS TO HAVE CORRECT PLANNING

At the conference, Deputy Minister of Industry and Trade Do Thang Hai, head of the domestic market operations team, said that as of the date of this announcement on December 7, the assessed commodity market will still face a difficult situation in EU countries with price caps imposed on Russian petrol. This may cause Russia to find other sources of customers and the EU side to find other sources, which can lead to unpredictable fluctuations in the market. At current consumption, Vietnam is not a priority destination for oil imports.

Also, low pork prices may risk people not herding again, which will lead to supply difficulties as well as price controls… All of these signs must be clearly visible in order to have a prepared plan.

Minister Nguyen Hong Dien agreed, saying that the potential instability of the world commodity market will strongly affect Vietnam’s domestic and export commodity markets in a negative direction in the coming period as our economy is very open.

Therefore, in addition to encouraging manufacturing and economic enterprises to actively implement the market stabilization program, it is necessary to continue to implement methods to support enterprises in the implementation, such as assessment…

In particular, the Ministry of Agriculture and Rural Development must instruct the local agricultural sector to develop plans and solutions to increase production in order to balance food supply and demand and stabilize prices.

The Ministry of Finance should coordinate closely with the Ministry of Industry and Trade to closely monitor price movements, particularly for essential consumer goods and services and items subject to price stabilization; coordinate to strictly deal with price law violations; Instructions to local governments to implement market stabilization programs in the last months of the year and on the occasion of the Lunar New Year to help ensure social security, achieve the government’s goal of controlling inflation and managing the macro economy.

The State Bank of Vietnam continues to direct local commercial banks to introduce support measures for companies participating in the market stabilization program with preferential interest rates during the Lunar New Year to create conditions for companies to increase the capital stock of commodities and stabilize the market.

The Department of Transportation, the Department of Public Security and the Department of National Defense are coordinating with local authorities to create favorable conditions for traffic to support the movement of goods and services during the year-end and Lunar New Year.

The Ministry of Science and Technology directs functional science and technology units to strengthen inspection, inspection, supervision and measurement of product and commodity quality standards and ensure customer service.

In particular, the Vietnam National Oil and Gas Group, Vietnam Oil and Gas Group, Electricity of Vietnam and the leading petroleum trading companies must reserve and circulate in accordance with the regulations, and strictly implement the entire source of gasoline. At the end of the year and before, during and after the Lunar New Year, plan to ensure a stable supply of petroleum for the production of enterprises and people’s daily life without interrupting the oil well.

Ms. Phung Anh Ngoc, Department of Price Management at the Ministry of Finance, added that the ministry will continue to coordinate with local ministries and sectors to regulate the prices of essential goods and liaise with the Ministry of Industry and Commerce on the management and administration of the Adjust prices going essential goods petroleum products according to the regulations. At the same time, propose solutions to stabilize the market and stabilize the macro economy. This is an important activity as price control in December and year-end will create scope to control inflation in 2023.

In addition, the Treasury will coordinate with local finance departments to implement measures to monitor commodity price volatility and ensure price stability of agricultural products and staple foods for Tet.