| A consumer inspects sugar at the Co.opMart store on Nguyen Dinh Chieu Street in HCMC’s District 3 - Photo: Minh Tam |
The businesses said they had prepared larger stock than that assigned by the city’s Department of Industry and Trade and they are ready to supply the market with 6,000 tons of rice, 11,000 tons of sugar and 4,600 tons of livestock per month.
The companies have also completed goods storage plans to meet customer demands. For instance, meat processor Vissan has plans to launch 2,100 tons of pork, 360 tons of cattle meat and 3,400 tons of processed food in the lead up to the country’s biggest national holiday, higher than those registered with the department at 2,000 tons, 200 tons and 900 tons respectively. Vissan has also put around 2,000 tons of frozen meat in stock.
Saigon Co.op, the owner of the city’s leading retail store chain Co.opMart, has advanced VND300 billion for farms so that they can ensure sufficient food supply and low prices prior to the Tet season during which high demand often drives up prices.
According to the department, local consumers will be able to buy frozen and dried seafood from Ca Mau Province-based Phu Cuong Group at 10% low than market prices. The company says it will meet around 20% of demand in the city although it has got no preferential loans from the price stabilization program.
Phu Cuong is also committed to keeping prices unchanged from now to the end of next March.
The city kicked off the program on June 21 to stabilize prices of eight essential goods within this year and ahead of the upcoming Tet. The city offers interest-free loans to the 14 enterprises to store goods and sell them at prices 10% lower than market levels.
