return icon Vietnamnet.vn

Vietnamese consumers unanimously boycott CP Vietnam’s eggs

CP Vietnam Livestock Corporation, found as the culprit who pushed up the chicken egg prices up in recent days, has become the subject for extreme public criticism.

VietNamNet Bridge – CP Vietnam Livestock Corporation, found as the culprit who pushed up the chicken egg prices up in recent days, has become the subject for extreme public criticism.


{keywords}


The sharp egg price increase, which put urban dwellers on tenterhooks, has just been eased after the HCM City Department of Industry and Trade had a working session with CP Vietnam to clarify the pricing policy of the company.

At the meeting, CP Vietnam admitted that it raised the prices continuously in recent days for profits, while promising to set up more reasonable prices in the time to come.

A senior executive of CP Vietnam said that CP Vietnam always adjusts the prices in accordance with the market demand. Believing that the demand always goes high on the days before Tet, the company has raised the chicken egg prices in order to optimize its profits.

However, the industry and trade department stated that the price increase was unreasonable. The egg imports since December 2012 are big enough to satisfy the domestic demand. Moreover, the feed prices remain unchanged; therefore, CP Vietnam has no reason to raise egg prices.

According to the department, the egg prices had been increasing so rapidly since the beginning of the year. Chicken egg prices once jumped to VND2700 dong per egg instead of VND2400, while duck eggs at VND3500 instead of VND3000.

Meanwhile, the farmers, who raise fowl for CP Vietnam under the outsourcing contracts, affirmed that they still provided eggs to CP Vietnam at VND1,550 dong, the price which has been stable over the last year.

As such, the egg production cost would be some VND1,700 dong if counting on the transport and packaging fee. Meanwhile, on January 13, CP Vietnam still sold at VND2,500.

The unreasonable egg price increases have upset the normal daily lives of people. In HCM City, housewives hurry to supermarkets to buy eggs to store in their refrigerators. As the demand increased too sharply, some supermarkets only accepted to sell 20 eggs a day to each client.

It seems that not only consumers suffered from the egg price increases, but CP Vietnam has also tasted the bitterness when it deliberately raises big difficulties for consumers.

CP Vietnam has eased the chicken wholesale egg prices from VND2,600 dong to VND2.300. Besides, it said it has offered the preferential price of VND2,160 dong to Saigon Co-op, which is equal to the price applied by the enterprises which join the city’s program on stabilizing consumer goods on Tet holiday.

However, Bui Hanh Thu, Deputy General Director of Saigon Co-op has stated that the supermarket chain has not accepted the offer by CP Vietnam yet.

“It’s not a good behavior of pushing prices up and then forcing prices down, because it causes uncertainty to the market. CP Vietnam has eased its prices, but this does not mean that Saigon Co-op has to accept its every move,” Thu said on VnExpress.

“CP Vietnam should have taken actions to share the difficulties with consumers instead of pushing prices up to seek profits,” she added.

Meanwhile, Thoi bao Kinh te Saigon has quoted Nguyen Ngoc Son, PhD, a lecturer of the HCM City National University, as saying that if CP is found as violating the competition law, it would be imposed the fine worth 5-10 percent of total revenue.

CP Vietnam, a 100 percent Thai invested enterprise, has been well known as a company which controls the livestock feed and livestock markets.

In 2011, CP Vietnam reportedly obtained the turnover of $1.5 billion.

Compiled by Thu Uyen

MORE NEWS

President to pay State visit to RoK next week

President Nguyen Xuan Phuc and his spouse will pay a state visit to the Republic of Korea from December 4-6.

Fansipan among five top destinations for mountain trekking at year-end

Renowned tourism website Women's Weekly of Singapore has named Fansipan among the leading five destinations to visit for mountain trekking at the end of the year, with the website noting the Vietnamese mountain’s impressive views.

Dortmund chiefs predict bright future for VN football

Although this was only a friendly game with many of the German stars absent from the starting eleven due to the Qatar World Cup, the victory gave the Bundesliga team food for thought about Vietnamese players.

International designers dazzle fashion fans in Hanoi

International designers left a deep impression on fans of fashion in Hanoi with hundreds of fascinating designs presented at the Aquafina VN International Fashion Week (AVIFW) Fall/Winter 2022.

Monthly Government meeting focuses on year-end key tasks

The Government has established working groups on liquidity and currency, the real estate market and corporate bonds led by deputy prime ministers to stabilise these markets.

Vietnam to reduce environmental impact of textile-garment industry by 2030

The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030.

Property brokers no longer manipulate prices as buyers become more cautious

As buyers have become more aware and careful about shady practices, real estate brokers have not been able to sell properties at prices much higher than their real value.

Hanoi to turn middle alluvium ground into park

One more park has been designed for Hanoians. However, it is still unclear when the project will appear, as a number of other projects are still on paper or pending.

Asian investors eye more M&A opportunities in Vietnam

Investors from Japan, the Republic of Korea (RoK), and Singapore are looking for more potential merger and acquisition (M&A) opportunities in Vietnam, pinning high hopes on the long-term growth prospects of the market.

Vietnam's fishery exports exceed 10 billion USD in 11 months

Fishery exports reeled in 10.14 billion USD as of November this year, up 27% annually, said the Ministry of Agriculture and Rural Development.

HCM City want foreign doctors to be fluent in Vietnamese

The HCM City Department of Health has just proposed that foreign doctors should be fluent in Vietnamese if they want to work in the country.

Use of toxic e-cigarettes among students on the rise

After a trial smoke, T lost consciousness, was foaming at the mouth, and his limbs were curled up. Two days later, T regained consciousness at the hospital, but was still in the status of extreme fear.

Vietnam spends US$7.74 billion importing petroleum products

Vietnam imported over 7.5 million tonnes of oil and petrol worth around US$7.74 billion as of mid-November, up 24.1% in volume and 122% in value year on year, according to the General Department of Vietnam Customs.

Vietnam won’t sacrifice the environment for economic growth: Prime Minister

Vietnam takes people as the goal in development. People will enjoy the fruits of a green economy and the government will not sacrifice the environment to pursue economic growth.

Vietnam’s bond market contracts amid monetary tightening

After strong growth in the previous quarter, Vietnam’s currency bond market contracted 0.2% due to a decline in the Government bond market and slower growth in corporate bonds.
back_to_top