According to reporters' records on May 3rd at some traditional markets such as Nam Trung Yen temporary market, Hop Nhat temporary market (Hanoi), Cat Bi market (Hai Phong), prices of many items have slightly increased compared to the beginning of April.
Ms. Nguyen Thi Thuy - a small trader selling fruits at Nam Trung Yen temporary market - said that most types of fruits in the past week have increased from 2,000 - 5,000 VND/kg. Red meat used to fluctuate from 58,000 - 60,000 VND/kg, now it has increased to about 70,000 VND/kg. Notably, vegetable prices recorded a significant increase compared to the first weeks of April. Ms. Khanh Dien - a small trader selling vegetables - said that the prices of gourds and pumpkins increased from 15,000 VND/kg to 20,000 VND/kg; cabbage from about 20,000 VND/kg to 30,000 VND/kg.
Or at Cat Bi market (Hai Phong), some types of vegetables such as Malabar spinach and chrysanthemum cabbage have increased nearly 2 times, commonly at 12,000 - 13,000 VND/bunch. According to traders, imported goods have increased in price, causing selling prices to be pushed up in the market.
Not only fresh food, many consumer goods at grocery stores also recorded an upward trend.
Mr. Vu Xuan Lam - owner of a grocery store at Nam Trung Yen market - said that depending on the product, the selling price increased from 2,000 - 3,000 VND. Some items such as instant noodles increased by about 1,000 VND/package, spices such as vinegar and soy sauce increased by about 2,000 VND/product; the milk group had a higher increase.
Talking to reporters, Dr. Nguyen Minh Phong - former Head of Economic Research Department, Hanoi Institute for Socio-Economic Development Research - acknowledged that the fact that commodity prices have not decreased immediately after gasoline and oil prices decreased is a common development. According to him, the delay in price adjustment is a common factor, besides the psychology of keeping prices of sellers.
Price increases are also based on product quality and business goals. However, the situation of "following the tide", when some businesses have not proactively reduced prices accordingly," Mr. Phong said.
In order to control the price level, Dr. Nguyen Minh Phong proposed that synchronous coordination from management agencies and the market is needed.
In which, the implementation of the provisions of the Price Law, transparency in listing and price adjustment in accordance with regulations is necessary. At the same time, it is necessary to increase the supply of goods, improve market competition and encourage consumers to respond appropriately to price fluctuations.
