Prices of food and many commodities are beginning to rise in Ho Chi Minh City, which can be attributed to a variety of reasons, including a recent hike in gasoline prices.
According to the city’s stabilization program, prices of a package of ten eggs increased by VND1,000 (US$0.04) to VND2,000 ($0.09) on Wednesday.
The cost of many types of meat has risen by VND15,000 ($0.66) to VND30,000 ($1.32) per kilogram compared to the beginning of April.
Common fish products now sell at VND5,000 to VND15,000 more per kilogram.
According to Thanh, the owner of a grocery shop on Cach Mang Thang Tam Street in District 10, products such as shampoo, bath gel, detergent, and tissues saw a three to five percent rise in prices.
Huong, a resident in Tan Binh District, complained that her family’s spending on daily necessities started to surge in mid-May, a situation that many other citizens have found themselves in.
Traders consider this time of the year as a ‘slow-sales’ period, evidenced by low purchasing power, an absence of discounts from businesses, and climbing prices.
In order to keep their regular customers, these sellers have had to run their own discount programs or add gifts to multiple items.
Trinh Dang Khoa, who runs a chicken farm in the southern province of Dong Nai, stated that the cost of eggs is now at its record high in the past 10 years.
One of the reasons for the hike is recent epidemics that affect poultry and their egg production, Khoa said.
A gasoline price hike is another cause as it accounts for about three percent of the production cost, Pham Thi Kim Em, a representative of the Ba Huan egg and poultry company, said.
The costs of fuel and animal feed are also considered as factors that influence the prices of pork and some other types of meat, said Nguyen Kim Doan, vice-president of the Dong Nai Husbandry Association.
Meanwhile, local fishers said that fuel cost greatly affects seafood prices as it takes up a large part of production and transport expenses.