Food prices rise, people have to spend less

At the end of April, food prices at traditional markets increased simultaneously, causing consumers to worry.

Most essential food prices have increased. Vegetables at Dong Xa market (Mai Dich, Cau Giay) are quite abundant but prices have increased sharply. Photo: Duc Van

According to Lao Dong reporters' observations at Ha Dong, La Khe, Phung Khoang, Kim Giang, and Dong Xa markets ( Hanoi ) on April 24, vegetable prices have increased sharply, while supply is scarce.

Vegetables such as Chinese cabbage, water spinach, and amaranth have all increased in price by 30-50% compared to two weeks ago. Many traders said that the hot weather in early summer makes harvesting difficult, and vegetables are easily damaged during transportation, thereby pushing up prices.

The market for essential consumer goods such as food and vegetables at traditional markets has seen price fluctuations. Photo: Duc Van

"There are few vegetables but many buyers, so we are forced to sell at higher prices. We don't want that, but the supply is small and they wilt easily. If we don't increase the price, we will lose money," Ms. Hong, a vendor at Dong Xa market, explained.

The high price of pork has caused difficulties for both sellers and buyers. Photo: Duc Van

Not only vegetables, pork and poultry egg prices have also skyrocketed. At Ngoc Ha market, pork belly has jumped from 110,000 VND/kg to 135,000 VND/kg.

Large eggs are sold for up to 30,000 VND/dozen, an increase of 5,000 VND in just one week. Some seafood products such as snakehead fish and tilapia have also increased in price by about 10,000 - 15,000 VND/kg.

According to traders, the cause of the “price storm” comes from many factors including increased fuel costs, affecting transportation; along with unusually hot weather reducing harvest output; input costs such as animal feed, fertilizer, electricity and water also escalate.

In addition, the delay in importing some input materials due to unstable international transportation also significantly affects market prices.

In contrast to the shortage of goods in traditional markets, many supermarkets in Hanoi such as GO! Big C, Tops Market, MM Mega Market, WinMart... still ensure a stable food supply.

Vegetables and fruits such as zucchini, tomatoes, carrots, bok choy, etc. are all clearly listed in price, and even if they increase, they do not fluctuate too much. For example, bok choy costs 10,900 VND/kg, zucchini costs 19,900 VND/kg, tomatoes cost 35,900 VND/kg, etc.

Consumers feel secure shopping at supermarkets due to abundant supply and stable prices. Photo: Duc Van

However, consumers said that although prices at supermarkets have not increased much, they are not cheap, and are even higher than those at traditional markets for some items. Therefore, many people choose to “divide” their purchasing points, considering between supermarkets and markets to save costs.

Vegetables and fruits such as zucchini, tomatoes, carrots, bok choy... are all clearly listed in price, without too much fluctuation such as bok choy at 10,900 VND/kg, zucchini at 19,900 VND/kg, tomatoes at 35,900 VND/kg...

Mr. Tran Van Hung (Thanh Xuan - Hanoi) shared: "Now I have to calculate every meal. Going to the market is like solving a math problem, I buy the cheap ones first, and wait for the expensive ones to go on sale. Before, I ate meat every day, now I have to replace it with tofu and eggs to save money."

Not only adults, but also students - a low-income group - have been heavily affected. Many young people shared that they have cut down on spending, switched to eating instant noodles, rice with vegetables, and taken advantage of promotional items.

“Before, I went to the supermarket once or twice a week, now I only dare to buy vegetables at the market, and eat meat once or twice a week. Seeing that food prices tend to increase, my roommates and I try to save money and arrange our spending reasonably. We also take turns going back to our hometowns, and try to bring food and drinks from our hometowns to reduce spending in Hanoi. Because it is not easy for parents in the countryside to earn money for their children to go to school,” shared Nguyen Huong Giang, a student at Hanoi National University.

Not only in the inner city districts, in the suburban districts of Hanoi, the increase in food prices is also making people worried. Ms. Ngoc Giang - owner of a restaurant in Son Tay - Hanoi - said: After Tet, food prices increased. The most typical is pork, if during Tet it was about 100,000 VND/kg, now the price is 120,000 VND/kg. This price is for customers who buy in large quantities like her.

Forecast in the coming time, price food could remain high, especially if hot weather persists and shipping costs do not fall.

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