WNAM REPORT: The Hanoi Department of Industry and Trade and enterprises are gearing up for the upcoming Tet (Lunar New Year) holiday with plans to ensure a robust supply of goods and stabilise prices to meet consumer needs during the peak shopping season.
Deputy Director of the department Nguyen The Hiep said that businesses have already increased their stockpiling by an average of 7-25% as compared to the previous Tet preparation. Notably, domestically-made products, particularly those under the One Commune, One Product programme, make up 90% of the offerings.
Cuoi Quy high-tech organic vegetable cooperative in Dan Phuong district outlined Tet production plans in early October. They plan to expand the cultivation of leafy greens and high-quality vegetables under VietGAP standards so as to supply the market with a wide range of offerings.
Similarly, Vissan Joint Stock Company, a leading meat processing firm in the country, has increased its inventory by an additional 10-20%. It is ramping up production to provide nearly 1,200 tonnes of fresh food and 4,000 tonnes of processed products for more than 120,000 retailers nationwide.
Hiep said retailers negotiated with producers regarding supply sources and prices three to six months in advance.
Saigon Co.op, BRGMart, HaproMart, and Central Retail have prepared business plans to serve the nation’s biggest holiday, with inventory rising 25-30% against the previous season.
MM Mega Market’s business director Dinh Quang Khoi revealed that the company finalised its plans with major suppliers a month ago. Meanwhile, BRGMart’s marketing external relations manager Nguyen Thi Hien said the firm is collaborating with suppliers to forecast consumption and outline inventory plans, projecting a 2-3-time increase compared to regular monthly volumes.
According to Director of Co.opmart Hanoi Nguyen Thi Kim Dung, the year-end inventory increases around 30-40% as compared to the normal level and nearly 10% from the previous Tet holiday. The company is committed to maintaining stable prices and even increasing promotional offers.
Hiep stressed that along with market regulation measures, the department will continue working with enterprises to stabilise the market while joining hands with competent authorities to supervise food safety compliance among enterprises.
