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Food, consumer goods decline sluggishly

Although gasoline prices have dropped sharply, many products have merely decreased slightly or kept their old prices.

Food, consumer goods decline sluggishly ảnh 1 

Talking to a reporter from the Sai Gon Giai Phong Newspaper, Mr. Pham Thanh Hung, Vice Chairman of the Board of Directors of Ba Huan Joint Stock Company, said that the continuous reduction in petrol prices helped to cool down partly freight rates. However, in the cost structure of poultry eggs, logistics costs account for a small part of less than 20 percent, and fuel costs account for a small proportion of logistic costs. Currently, the price of all kinds of animal feed has been increasing robustly due to the disruption of the worldwide supply chain, so it will be difficult to lower poultry egg prices.

The representative of Vinasun Taxi Company said that it would adjust the new fares to suit the actual situation, but it would need a certain delay. This company explained that in case gasoline prices rise by 10 percent, the company is allowed to increase its fares by about 3 percent and vice versa. To adjust the taxi fares, the company must send a document to the agency in charge of freight rate adjustment. After being approved, the enterprise needs to verify again its meter counters, and this process takes time.

Representatives of wholesale markets, such as Hoc Mon, Binh Dien, and Thu Duc, said there were no price hikes, and small traders actively adjusted the best prices to consumers.

Mr. Nguyen Binh Phuong, Deputy Director of Thu Duc Agricultural Wholesale Market Management and Trading Company, informed that the amount of goods arriving at the market is about 2,500 tons each night.

For Hoc Mon Wholesale Market, the amount of goods entering the market is also above 2,400 tons every night. The prices of vegetables and tubers of all kinds are directly affected by the weather, so it is difficult for farmers to be proactive about prices.

“In general, some transporters are willing to subsidize freight rates to support customers, but with the condition that petrol prices drop long enough for enterprises to recover. Because during the time of high gasoline prices, many enterprises had to suffer losses and subsidize freight rates for partners," said a representative of a transportation company in District 3.

Source: SGGP

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