Consumption demands to soar for Tet

Hanoi (VNA) - Consumption demands for the upcoming Tet (Lunar New Year), the
country's largest festival of the year, are expected to increase roughly 20
percent over last year, but prices should not surge sharply, according to
the chairman of the Vietnam Supermarkets Association, Vu Vinh Phu.

Phu anticipated that prices would rice only 5-10 percent over current levels
if the country does not suffer from any serious natural disasters and
disease before then.

Nguyen Thai Dung, deputy general director of BigC, said that increases would
vary on different kinds of goods. He forecast that food and foodstuffs would
rise by roughly 10-15 percent over the same period last year, not accounting
for inflation.

However, Dung said, the average surge would be roughly 5-7 percent.

To ensure supply and stable prices, the Hanoi Department of Industry and
Trade has asked relevant bodies to provide 160 billion VND in non-interest
loans so traders can stockpile.

Phu urged relevant bodies to quickly approve the proposal so that traders
could stockpile goods at least two months ahead of Tet to allow time for the
assistance to take effect.

Phu explained that goods had to be stockpiled two months ahead of Tet, so
that traders could take advantage of reliable sources to keep prices lower.
Last year, the provision of the same loan took effect too late, only 15 to
20 days before Tet.

Traders have already begun preparing goods and commodities, although there's
still three months to go.

BigC's Phu said his supermarket kicked off preparations last month, adding
that it would finish signing agreements with suppliers on volume s and
prices of goods for Tet in the next few weeks to meet customer demands.

BigC has planned to raise its stockpile of goods for Tet by roughly 20-30
percent over last year.

The Hapro supermarket chain, of the Hanoi Trade Corporation, also dispatched
staff to the South last month to diversify its supply sources.

Vissan, which is among the country's leading meat and food processors and
distributors, plans to stockpile 6,000 tonnes of meat, 1,500 tonnes of
processed food and 10,000 tonnes of fruit and vegetables.

Vissan has also sped up its purchase of raw materials to ensure its
production and processing for the rest of the year.

Sai Gon Agricultural Food Processing and Animal Breeding Company
(Sagrifood) plans to regularly stockpile 1,000 tonnes of rice, 1,800 tonnes
of meat, 100 tonnes of poultry and 50 tonnes of processed food.-Enditem