Businesses proactively prepare goods to serve the market during peak time

On October 30, 2023, the Ministry of Industry and Trade issued Directive No. 13/CT-BCT on implementing solutions to balance supply and demand and stabilize the market at the end of 2023 and the Lunar New Year of the Dragon in 2024. Accordingly, the Provincial People’s Committee directed the Department of Industry and Trade to review and evaluate the market to advise on implementing a stabilization plan with effective and appropriate solutions, in which required businesses and distributors to proactively source goods to promptly and fully supply people’s consumption needs during peak times.

Employees at Dong Tien supermarket, Lang Son city arrange goods on shelves

According to forecasts of the industry and trade industry, with the current commodity market situation, the risk of shortages in the near future is quite low. However, the demand for goods shopping at the end of 2023 and the 2024 Lunar New Year is forecast to increase by about 10 to 15% compared to normal days, At the same time, prices of essential goods are likely to increase by 5 to 10%, and may also increase higher due to the unstable world political situation, leading to continued fluctuations in the market economy and gasoline prices.

Based on forecasts and the actual commodity market situation in the province, the Department of Industry and Trade has reviewed and proposed large businesses and distributors in the province to proactively source capital to import and store goods and register to sell goods to stabilize prices during peak times (commitment to selling price 5 to 10% lower than market price).

Through sector surveys, up to now, major businesses distributing consumer goods and essential production include: Hoang Nguyen Trading Joint Stock Company, Thien Phu Construction Trading Company Limited, Lang Son Agricultural Materials Joint Stock Company… have all deployed goods storage as planned from the end of October 2023. Mr. Tran Duc Thanh, General Manager of Hoang Nguyen Trading Joint Stock Company said: In order to ensure the amount of essential goods to serve people’s consumption needs at the end of 2023 and 2024 Lunar New Year, from the beginning of October 2023, the company has compiled statistics and closed orders with stores, retail agents in 11/11 districts and city. At the same time, the company built a plan to reserve goods with a total value of nearly 50 billion VND (an increase of about 20% compared to other months of the year) and proactively increased the warehouse area by 1,000 m2. This year, due to market fluctuations, the prices of some essential consumer goods such as rice, cooking oil, sugar, salt… increased by 10 to 15% compared to the same period in 2022.

Along with distribution businesses, large supermarkets and convenience store chains in the province such as Winmart, Thanh Do, Dong Tien; WinMart+ store chain… has also implemented plans to import and sell goods before, during and after the Lunar New Year. Mr. Nong Hong Nghia, Director of Dong Tien Supermarket Trading Joint Stock Company said: To ensure the supply of goods to serve the peak season, in early November 2023, we have completed a plan and worked with major commodity suppliers to list and finalize output for key products. Currently, the total value of the supermarket’s stored goods is about 6 billion VND (up 35% compared to normal months of the year) with more than 400 items, focusing on food and essential goods.  It is expected that in the near future, the number of customers coming to supermarkets will increase about 10 times compared to normal days. Therefore, we will continue to allocate goods, ensure the quantity of goods, diversity of products, origin, stable prices, and clear listing to meet consumer needs.

Customers shop at Winmart supermarket, Chi Lang ward, Lang Son city

According to surveys and assessments of the industry and trade sector, up to now, the amount of goods serving the market from now until the 2024 Lunar New Year has been imported into warehouses by large distribution businesses and supermarkets, ensure to supply about 80% of the people’s consumption needs. Mr. Tran Huu Giang, Head of Trade Management Division, Department of Industry and Trade said: Up to the present time, the source of goods to serve people’s consumption has been basically prepared by businesses, but the market situation in the coming time is still at risk of negative fluctuations, commodity prices may fluctuate erratically. Therefore, the division has advised the department to request businesses to proactively expand their goods distribution network and be ready to organize mobile sales vans to remote areas and ethnic minority areas to serve people needs. In particular, during the period approaching the Lunar New Year, the division will advise the department to coordinate with relevant sectors to organize inspection teams and monitor the market supply and demand situation,  commodity prices in some key areas, resolutely handle cases of intentionally hoarding goods, illegally increasing prices or violating other regulations on commercial activities to protect the rights of consumers as well as genuine businesses.

The proactive involvement of all levels, sectors, businesses and distributors will contribute to helping the commodity market at the end of 2023 and the Lunar New Year of the Dragon 2024 to stabilize, meeting shopping and consumption needs of the people. Thereby, it create favorable momentum for promoting the province’s socio-economic development in the upcoming new year.

Based on the actual population of the province and the expected number of visitors to consume in the province during the Lunar New Year, the industry and trade sector has estimated the quantity of some essential goods needed to serve the needs of people during peak months before, during and after Lunar New Year in the province such as: about 7,200 tons of rice, 1,800 tons of sticky rice; 180 tons of sugar, 180 tons of salt; 90,000 liters of cooking oil; 10,800 tons of fresh meat (pork, buffalo, beef, chicken, all kinds of seafood…); 450 tons of cakes, jams, and candies of all kinds; 2,700 tons of fresh fruits of all kinds…