Illustrative image (Source: VNA)HCM City (VNA) – The retail sales and service revenue in Ho Chi MinhCity reached more than 94.91 trillion VND (4.07 billion USD) in April, up 2.3percent from the previous month and 14.4 percent from the same time last year,boosted by strong promotional campaigns by shopping malls and supermarketsduring national holidays.
Reports from competent authorities showed that revenues went up in the sales ofrice (0.6 percent); beef (0.17 percent); confectionary (0.35 percent); and tea,coffee, and cocoa (0.52 percent). Meanwhile, earnings from pork products fell by3.36 percent, poultry 0.66 percent, seafood 1.79 percent, vegetables 1.91percent, and fruits 0.06 percent.
According to the municipal Department of Industry and Trade, the sufficientsupply coupled with the effective market stabilisation programme have kept foodprices steady since the beginning of the year.
The two adjustments in oil and gas prices in April only impacted the transportsector, driving coach and train fares to rise by 0.56 percent and 2.67 percent,respectively.
Deputy General Director of Saigon Co.op Nguyen Anh Duc said that his company hasjoined hands with suppliers to ensure price stability. The retail chain – whichruns Co.opmart, Co.opXtra, and Co.opfood – will focus on essential commoditiesand continue to run promotional programmes to bolster purchasing power.
Duc affirmed that Saigon Co.op will avoid irrational price hikes to protectconsumer rights.
Other retailers in the city said that in the context of weakened spendingpower, distributors and suppliers should join hands to stabilise the market.
In traditional markets, price increases were seen in fresh and frozen food productsfollowing surges in fuel and electricity prices.
A local business association said that they want to receive support fromrelevant authorities amid market volatility so as to ensure logical productionplans can be made.
Ho Chi Minh City is now home to 13 million residents, with expanding demandsfor food. However, the city is only able to meet 20-30 percent of the totaldaily consumption, relying heavily on imports and supplies from other citiesand provinces.–VNA
VNA
