As the Lunar New Year (Tet) approaches, decoration shops along the streets of Ho Chi Minh City such as Hai Thuong Lan Ong, Tran Hung Dao, Nguyen Trai, Phung Hung are showcasing a plethora of Tet-themed products, boasting diverse designs.

This year, traditional Vietnamese Tet decorations dominate the majority of displayed items. Customers are taking notice of many new products, including the Tet couplets written on red paper affixed to bamboo sticks, and red-painted bamboo trays adorned with the calligraphy of Tet wishes.

Particularly, owing to the Year of the Dragon, the zodiac symbol for this Tet, most decorative items feature images of dragons, both traditional and stylized.

Compared to the previous year, the prices of Tet decoration products remain relatively stable.

Nguyen Mai Nhi, a small merchant on District 5’s Hai Thuong Lan Ong street, said the number of customers during Tet doubles compared to normal days. However, this year, customer numbers are down by about 50% compared to the same period last year. She is considering offering further discounts on products closer to Tet and extending sales beyond the holiday to generate additional income.

In contrast, stores and supermarkets in Ho Chi Minh City are busier as customers actively go shopping there.

Besides traditional markets, some consumers prioritise online shopping channels. Major e-commerce platforms such as Shopee, Lazada, and the Tik Tok Shop are rolling out various promotions along with policies and services to facilitate smoother shopping experiences.

Lanterns, red winter cherry blossoms, decorative decals, and auspicious hanging scrolls are among the popular search keywords on these platforms.

In addition to discounts, industry-specific promotions and live stream events, these platforms also offer specific features. These include free shipping, 5-7 day returns, easy order cancellation, QR code scanning for rewards, pre-delivery product inspection, customer consultation, and meticulous packaging.

Vietnamese companies win Indonesian rice contracts

In line with the 2024 plan, Indonesia was reportedly set to import approximately 3 million tonnes of rice, nearly matching the Philippines' planned import of Vietnamese rice, which will make Indonesia one of the world's largest rice importers and a key customer for the Vietnamese rice industry.

In January, the Indonesian National Logistics Agency (Perusahaan Umum BULOG) initiated a tender to import 500,000 tonnes of rice to bolster the country's food reserves. By January 30, BULOG completed the bidding process, with Vietnam as the winner of eight out of 17 packages, distributed among five companies.

According to BULOG, three major Vietnamese companies secured two lots each, including Loc Troi Group Joint Stock Company (LTG) winning lots 8 and 14, Northern Food Corporation (Vinafood 1) taking lots 15 and 16, and Southern Food Corporation (Vinafood 2) obtained lots 3 and 9.

The remaining successful bidders were Kien Giang Import-Export Joint Stock Company, clinching lot 12, and Phat Tai Food Limited Company securing lot 11. Notably, Vietnam stood out as the only country with multiple companies participating and securing bids in substantial quantities (more than two lots). The sole Singaporean trading company R&S Trader PTE secured lots 10, 13, and 17.

The Vietnam Customs General Department data revealed Indonesia surpassed China to become Vietnam's second-largest rice export market with 1.16 million tonnes, totalling 640 million USD, a significant 877-992% increase compared to 2023.

Industry experts said the recently concluded 500,000-tonne rice tender with Vietnamese companies winning approximately 2/3 of the quantity signalled a positive outlook for a successful harvest post-Lunar New Year.

The latest data from the Vietnam Food Association (VFA) for January 2024 indicates that despite minor fluctuations, the country's rice export prices decreased by about 11 USD/tonne compared to the end of 2023, with late January 2024 data seeing the export prices of standard 5% broken rice at 642 USD/tonne.

At this price, Vietnam's 5% broken rice is currently around 13 USD/tonne lower than the equivalent grade from Thailand (according to the Thai Rice Exporters Association - TREA, Thailand's standard 5% broken rice is priced at 655 USD/tonne). In comparison to Pakistan, Vietnam's 5% broken rice is approximately 4 USD/tonne higher, with the current price in Pakistan at 638 USD/tonne.

Industry insiders said the current export prices of Vietnamese rice aren't high due to limited available stock, with transactions expected to resume at the end of February or early March. During this period, businesses focus on the domestic market and prepare for the Tet holiday, refraining from actively entering new contracts.

Updates on domestic rice prices on February 1 in various locations in the Mekong Delta region reveal that rice prices have been maintaining elevated levels. Key figures include IR 504 rice at 9,000 – 9,200 VND/kg; Fragrant rice 8 around 9,600 – 9,700 VND/kg; OM 18 at 9,600 – 9,800 VND/kg; OM 5451 at 9,300 - 9,500 VND/kg; Nang Hoa 9 remaining stable at 9,400 – 9,600 VND/kg; and OM 380 rice fluctuating around 8,600 - 8,800 VND/kg.

Regarding rice prices, a slight increase of 50-100 VND/kg compared to yesterday is noted. Currently, the price of IR 504 NL rice is at 12,500-12,600 VND/kg; while TP IR 504 rice is at 14,650-14,750 VND/kg.

Vietnam, China see surge in border trade, with more to come

Trade activities between Vietnam and China have been busy since the beginning of 2024, with a series of border gates reopened and upgraded.

According to the management board of the Dong Dang-Lang Son economic zone, the first week of the year saw the number of trucks transporting goods through six land border gates in the northern mountainous province of Lang Son increased by nearly 300 compared to the previous month. On a daily average, there were about 400 trucks carrying exports and about 800 trucks carrying imports.

Lang Son shares a 231.7km borderline with China’s Guangxi Zhuang Autonomous Region.

A representative of the board stated that the demand of the Chinese market for Vietnamese agricultural products and fresh fruits during the Lunar New Year period is usually very high. Meanwhile, Vietnamese enterprises also need to import more consumer goods and machinery components for the domestic market, hence the significant increase in cross-border trade between the countries.

Trade activities, especially on farm produce, are also in full swing at the Lao Cai border gate in the northern province of the same name, which borders China’s Yunnan province. In the first three days of 2024, the total import-export turnover through this crossing neared 5.4 million USD, with export value exceeding 2.8 million USD. Vietnam's main exports include durian, bananas, sweet potatoes, dragon fruit, dried cassava and charcoal.

Vuong Trinh Quoc, the head of the management board of Lao Cai economic zone, forecast that trade with China will flourish even more this year. After the state-level visit to Vietnam by Party General Secretary and President of China Xi Jinping, the country has announced that it will open its market to many potential Vietnamese agricultural products, including fresh coconuts, frozen fruit, citrus fruit, avocados, bananas, custard apples, and water apples.

Tết favourites on display at HCM City fair

The “Tết Xanh – Quà Việt 2024” fair opened in HCM City on February 3 for consumers shopping for the Lunar New Year (Tết).

Organised by the Business Studies and Assistance Centre, the Business Association of Vietnamese High quality Products, the 10th edition of the event has attracted more than 50 businesses from over 30 provinces and cities that are offering nearly 1,000 products such as frozen food, consumer goods, tea, coffee, honey, spices, vegetables, fruits, nuts, cosmetics, and beverages.

A majority of them are unique items made from local resources, OCOP products, those with geographical indication, typical rural items, and Vietnamese high-quality goods, all suitable for gifting during Tết.

They include products made in traditional craft villages such as apricot and green tea vinegar from Bách Cốc Cổ Village in Nam Đinh Province, refined sea salt stew from Tuyết Diêm craft village in Phú Yên Province, Đất Tổ square glutinous rice cake from Phú Thọ Province, grape wine from Ninh Thuận Province, and three to five-star OCOP products like honeysuckle tea, herbal tea, Sokfarm coconut nectar, nipa palm products, and Đắc Lắk coffee.

Start-ups from across the country are showcasing “green – clean – innovative” products like honey, botanical shampoo, vegetarian foods, and dried shrimp.

Also on sale are products considered indispensable one during Tết such as pork paste, sausage, fried fermented pork rolls, fermented pork rolls, square glutinous rice cakes, cylindrical sticky rice cakes, and pickled vegetables and spices from producers of Vietnamese high-quality goods and other businesses.

There will be events to enable visitors to experience ethnic cultures and activities for children such as painting clay animals and making handmade products such as tò he (folk figurines from glutinous rice).

Renowned chefs will demonstrate how to cook traditional Tết dishes from all regions.

Vũ Kim Anh, deputy director of the Business Studies and Assistance Centre and head of the fair organising committee, said the centre is also organising the Vietnam One Stop programme in Phú Quốc from February 1 to showcase unique products made in craft villages and agricultural products made using modern technology.

“In the northern region, we are co-ordinating with Uniqlo to organise two similar fairs at Vincom Mega Mall Royal City and Vincom Center Bà Triệu in Hà Nội, offering people the opportunity to shop for regional specialty products for Tết.”

“Tết Xanh – Quà Việt 2024,” being held at 135A Pasteur in District 3, will go on until February 6. 

Fight against cross-border smuggling tightened

Customs forces are stepping up the fight against cross-border smuggling in Lạng Sơn Province.

This move follows booming import-export activities across these border gates as domestic consumer demand increases ahead of the Tết holiday. Rising cross-border shipments can correspond with an increase in smuggling and trade fraud.

Customs officials at the Hữu Nghị International Border Gate have been implementing new legal regulations related to customs and import and export policies to create favourable conditions for customs clearance and good trading.

Officials are also closely inspecting goods and their origins and conducting more comprehensive post-customs clearance inspections.

Deputy head of the Hữu Nghị Border Gate Customs Branch Phùng Văn Ba said his unit has deployed solutions to combat smuggling and trade fraud by increasing the screening of goods from declaration stage and each stage beyond.

The unit will mark shipments that violate procedures for additional inspection to ensure that businesses do not violate shipping procedures, he said.

Deputy head of Tân Thanh Customs Branch Nông Quang Hưng said his unit has strictly controlled vehicles transporting goods into and out of shipping yards.

The unit has also focused on classifying import and export channels and closely monitoring warehouses and other storage areas for goods. He added that his unit has discovered and handled at least 63 violations, imposing administrative fines of over VNĐ4 billion in 2023.

Vũ Tuấn Bình, deputy head of Lạng Sơn Customs Department said that the department has directed border gate customs units to specifically inspect exported and imported goods and items with high tax rates to prevent smuggled and counterfeit goods.

He said customs authorities will collaborate with relevant government entities to strengthen the fight against smuggling, trade fraud, and counterfeit good shipments along busy shipping routes.

Lạng Sơn Province is now home to seven border gates at Chi Ma, Tân Thanh, Cốc Nam, Nà Nưa, Na Hình, Hữu Nghị and Đồng Đăng.

According to the department, in 2023, units handled over 1,500 violations of smuggling, trade fraud, and counterfeit goods and issued fines totaling over VNĐ8.3 billion.

Late last year, Deputy Prime Minister Trần Lưu Quang issued a plan for the prevention and control of cross-smuggling ahead of the 2024 Tết holiday.

Under the plan, relevant ministries, agencies, and localities are required to build and implement campaigns to prevent smuggling, trade fraud, and counterfeit products through the Tết period and beyond.

Measures include increased inspections and patrols along border areas and at border gates, seaports, airports, and routes where smugglers often transport goods and commodities into Việt Nam.

The Deputy Prime Minister also asked government bodies to strengthen market inspections, including inspections of the e-commerce platforms and social network pages such as Facebook, Zalo, and TikTok.

The Deputy Prime Minister's plan also emphasized a focus on preventing the smuggling of banned products, low-quality products, high-tax products, and essential commodities serving consumers during Tết.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes