Strengthening control and stabilize commodity markets

At this time, the prices of many products on the market continue to fluctuate in an increasing direction. Facing with that situation, the sectors and functional forces of the province have been strengthening activities to strictly control the selling prices of goods on the market; Strictly handle cases of unreasonable increases in goods prices.

Market management forces check prices listed on products at business establishments in the city

According to the Department of Industry and Trade’s review of commodity prices on the provincial market in August 2023, out of 11 main groups of consumer goods and services, 5 groups increased in price. Specifically, the food group increased by 0.63% over the previous month (rice prices increased by 0.74%, processed food items increased by 0.32%); Food group increased by 1.4%. In particular, the price of pork increased by 3.89%, the price of beef increased by 0.29%, and the price of poultry meat increased by 0.27%; Processed meat prices increased by 2.0%,… In addition, the prices of fruits and vegetables at this time also increase from 2 to 5% depending on the type compared to the previous month. Facing with that reality, following the direction of the central and provincial governments, the Department of Industry and Trade promptly updated market price developments, clearly understood the supply and demand of goods, and thereby developed a plan to stabilize the market.

Mr. Lieu Anh Minh, Deputy Director of the Department of Industry and Trade, said: From August 2023 up to now, the department has organized 4 working sessions with 20 businesses and large retail distribution units in the province to clearly understand  about the supply and demand situation and prices of some products. Through working sessions, from information from businesses, the department has organized connections between 8 businesses and large retail distribution unit with a number of distribution businesses in Hanoi, Lam Dong, Thai Nguyen… to sign contracts to source goods imported into the province to serve people’s consumption needs.

In addition, the department also worked with 4 supermarkets, 1 shopping center, 2 representatives of convenience store systems… to discuss organizing price reductions and promotions to reduce the pressure of price increases on some essential goods. At the same time, the Department of Industry and Trade is coordinating with tax, finance, and market management agencies… to prevent and promptly detect acts of taking advantage of market fluctuations in supply and demand to hoard goods and increase prices, especially in the last months of the year, thereby positively contributing to market stability in the province.

Officer of Market Management Team No. 5 checks the listing of selling prices of goods at confectionery businesses in Binh Gia district

Along with that, to control commodity prices and protect consumer rights, from mid-August 2023 until now, The leaders of the Market Management Department have directed their affiliated Market Management teams to strengthen market inspection and control according to key topics. Accordingly, market management teams in charge of districts and city simultaneously launched inspections of business and trading establishments at markets, minimarts… in the province.

According to data from the Provincial Market Management Department, in just a short time of launching (from August 15, 2023 to September 10, 2023), the Market Management force inspected 75 business establishments. Thereby, 32 business establishments were discovered and fined for violating price regulations (not posting prices, selling prices higher than the manufacturer’s price, etc.). Along with that, the market management force also organized propaganda and mobilized 609 business establishments to sign a commitment not to increase the selling price of goods and to sell at the manufacturer’s listed price; propagated and mobilized 37 large business establishments (supermarkets, shopping centers, minimart, Vinmart+ convenience stores…) to sign a commitment to discount sales; signed an agreement with 25 management boards of markets in the province to jointly supervise business activities and sell goods at listed prices at markets;…

“To control commodity prices, in addition to publicly inspecting the compliance with price regulations of business establishments at markets, minimarts, supermarkets, etc., the province’s market management force also focuses on working and mobilizing businesses and business establishments to participate in stabilizing prices of goods.” Mr. Nguyen Minh Tuan, Deputy Director of the Provincial Market Management Department

 

Mr. Dang Van Dung, Director of Winmart+ in Lang Son, said: Currently in the province there are 27 Winmart+ convenience stores opened in 11 districts and city. During this time, in response to rising commodity prices, through working with provincial authorities, Winmart+ system, Lang Son province branch, has committed to supporting consumers by every month Winmart+ will organize 3 promotions and discounts on some items, including fresh food items, processed foods… Winmart+ will reduce from 5 – 10% (depending on the product) to stabilize market prices and attract consumers to shop at Winmart+.

People shop for goods at Lang Son Winmart+ supermarket

According to forecasts of the province’s industrial and trade sector, from this time until the end of the year, the demand for purchasing goods will increase, and commodity prices will have unusual fluctuations. Hopefully, with the solutions of the industry and trade sector, along with the drastic intervention of the market management department, the selling price of goods in the provincial market will be stabilized.