return icon

Though petrol prices have fallen, food prices have remained high

Contrary to all predictions, food prices have remained high despite the sharp fall of gasoline prices.

Vo Thi Kim Phuong, a small trader at Binh Thoi Market in district 11, said the prices of some pork products have increased by 15 percent and she cannot understand why pork prices have not fallen though gasoline prices have dropped sharply.

“The cost prices are high, even pork fat is expensive, so we cannot reduce selling prices. I don’t know how I should explain the increase when I am asked by consumers,” she said.

The pork prices at Nguyen Tri Phuong Market in district 10 have also increased. Shoulder cuts increased from VND130,000 per kilogram on July 1 to VND136,000 on July 26, while cutlets went from VND125,000 to VND135,000 and pig’s legs from VND110,000 to VND122,000.

At Hoc Mon Wholesale Market, first- and second-class live weight prices of pig in June were VND58,000 and VND56,000 per kilogram, respectively. The prices rose to VND68,000 and VND64,500 per kilogram, respectively, on July 25.

According to AgroMonitor and Viettraders, on July 25, pork prices in Vietnam were higher than in Cambodia, Laos and Myanmar, equal to Thailand, and lower than China.

Live weight prices of pigs were VND68,000-70,000 per kilogram in the north, VND63,000-66,000 per kilogram in the central region, VND66,000-68,000 in the southeast region and VND63,000-66,000 in the southwest region.

After three adjustments on July 1, 11 and 21, the RON95 price has dropped by VND6,800 per liter, and E5 by VND6,230 per liter compared with June 21. Meanwhile, food prices have not decreased.

Nguyen Thi Thu Ha, a petty merchant at Binh Thoi Market in district 11, complained that she could sell only half a chicken and half duck on July 26. As prices are escalating, sales are going very slowly. Chicken is now sold at VND140,000 instead of VND120,000 per kilogram.

Vegetable prices have also been escalating. Bitter melon is selling at VND40,000 per kilogram because the cost price has increased from VND20,000 to over VND30,000 per kilogram.

“As prices are high, products are not selling. Only some kinds of fruit from Da Lat have seen a slight price decrease thanks to lower transportation costs,” Hong said.

Nguyen Bich Lam, former director general of the General Statistics Office (GSO), said it was understandable why goods prices have not decreased despite the sharp fall of gasoline prices. Consumers have become familiar with and accepted the new price levels. Another reason is that no one knows if petrol prices will remain stable or increase again in the future, so sellers are hesitant to adjust prices.

Tam An


Foreign Minister Bui Thanh Son pays visit to Germany

Minister of Foreign Affairs Bui Thanh Son paid an official visit to Germany from September 26-27 at the invitation of his German counterpart Annalena Baerbock.

2,500 children suffer from cancer in Vietnam every year

The Cancer Centre under the National Paediatrics Hospital, revealed the information in the programme "Con thuyền mơ ước" (Ship of Dreams) to improve people's awareness of children's cancer on Sunday in Hanoi.

New Vietnam-Japan cooperation era: Japanese Vice Minister of Defense

“Let's make 2023 the year that marks the beginning of a new era for both Japan and Vietnam," said Japanese Vice Minister of Defense Yasuhide Nakayama in a talk with VietNamNet.

Challenges ahead for Vietnam this year

“Pressure”, “increased difficulties” and “high risks and challenges”: these are the words used by the Minister of Planning and Investment to describe how hard it will be to fulfill Vietnam’s growth goals this year.

Some industries lack orders, others cannot take more

While woodwork companies are lacking new export orders amid high inflation in the US and Europe, food-processing companies are not receiving new orders because of rising input material prices.

Wholesale and retail sectors lead in new foreign investment approvals

The wholesale and retail industries took the lead in new foreign-invested projects in the January-September period, according to the Ministry of Planning and Investment.

Vietnam cracks down on IUU fishing ahead of EC inspectors’ visit

Deputy Prime Minister Le Van Thanh has ordered strengthening inspections to ward off illegal, unreported and unregulated (IUU) fishing as European Commission (EC) inspectors are coming to Vietnam in October.

Phuoc Thinh to represent Vietnam at Mister Tourism World 2022

Vietnamese model Phung Phuoc Thinh is set to compete for a title at Mister Tourism World 2022 due to take place in the Philippines this December.

Vietnam, Kazakhstan to open direct flights in October 2022

The Civil Aviation Committee of Kazakhstan has officially licensed Vietjet Air to launch direct flights between Vietnam and Kazakhstan.

Vietnam among seven economic wonders of worried world: Financial Times

A writing published by the London-based Financial Times on September 26 described Vietnam as one of the seven economic wonders of a worried world.

UNICEF vows to support Vietnam in response to Typhoon Noru

UNICEF Vietnam expressed its concern over children and families in the country vulnerable to Typhoon Noru, saying it stands ready to support the Government of Vietnam in responding to the most powerful storm to hit Vietnam in 20 years.

President Nguyen Xuan Phuc attends state funeral of late Japanese Prime Minister

Politburo member and President Nguyen Xuan Phuc led the Vietnamese delegation to attend the state funeral of late Japanese Prime Minister Abe Shinzo in Tokyo on September 27.

President meets foreign leaders attending state funeral of late Japanese PM

President Nguyen Xuan Phuc held bilateral meetings with some foreign leaders attending the state funeral of late Japanese Prime Minister Abe Shinzo in Tokyo on September 27.

Assistant Deputy PM prosecuted for allegedly taking bribes

Criminal proceedings were launched against Nguyen Quang Linh, Assistant Standing Deputy Prime Minister Pham Binh Minh, on September 27 for allegedly taking bribes in the scandal related to COVID-19 repatriation flights.


Noru heads toward central Vietnam, rain starts to fall