Vietnamese consumption demand to soar for Lunar New Year
8/12/2008 16:14
Vietnam's consumption demands for the upcoming Lunar New Year, the
country's largest festival of the year, are expected to increase roughly 20
percent over 2007, but prices should not surge sharply, the local newspaper
Family and Society reported today, citing the source with Vu Vinh Phu chairman
of the Vietnam Supermarkets Association.
Phu anticipated that prices would
rice only 5 percent to 10 percent over current levels if the country does not
suffer from any serious natural disasters and disease before then.
To ensure
supply and stable prices, the Hanoi Department of Industry and Trade has asked
relevant bodies to provide US$95 million in non-interest loans for local traders
so they can stockpile goods at least two months ahead of Lunar New Year to keep
domestic prices lower.
Vissan, which is among the country's leading meat and
food processors and distributors, planned to stockpile 6,000 tons of meat, 1,500
tons of processed food and 10,000 tons of fruit and vegetables.
Sai Gon
Agricultural Food Processing and Animal Breeding Company planned to regularly
stockpile 1,000 tons of rice, 1,800 tons of meat, 100 tons of poultry and 50
tonnes of processed food.
Xinhua
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