Vietnamese goods sold better than imported ones, while there was no ‘price fever’ before and during Tet holiday, according the Ministry of Finance.

Many people prefer buying goods at super markets 

Locally-made products dominate

According to the ministry, supply during the days leading up to Tet increased by between 20% and 30% compared to normal days. The supply remains high after Tet, satisfying people’s demand.

The most prominent of this year’s festival is that locally-made products kept an upper hand over imported goods, the ministry noted.

Vietnamese goods accounted for from 90%-95% of total goods quantities at supper markets and trade centres, mainly confectioneries, beverages, fruits, dry foodstuff, food and apparel products. Some locally-made goods items such as processed foodstuff, seafood, rice and frozen products even monopolised the market.

The market trend is attributed to the fact that Vietnamese goods quality has been approaching the quality of imported products while the prices were between 15% and 20% lower than foreign products, the ministry assessed.

During Tet holiday, transportation firms recorded an increase of from 7%-10% in the number of passengers compared to last year’s figure. In order to meet the rising travelling demand, they have put more vehicles in use.

The purchasing power in the market increased by between 12% and 15% beginning from December 23 of the lunar year, around one week before Tet, which is modest compared to the rise of from 20%-25% last year.

Despite of the positive changes in the market, several misconducts have been recorded, including 30% of fake gas in the market; destroying of 1.45 tonnes of substandard animal organs, 23 tonnes of rotten pie; and seizure of over 8,000 illegally imported bottles of alcohol as well as dozens of tonnes of unoriginated confectioneries.

HCM City authorities dealt with 151 cases that violated animals and poultry quarantine, in addition to petroleum adulteration. The railway industry found fake train tickets in the market.

During a month close to Tet, market watchdogs nationwide dealt with 1,945 cases of illegal goods trafficking and trade frauds.

No major price hikes recorded

The ministry noted that there was no price fever during Tet as goods prices only slightly increased during the festival.

According to the General Statistics Office (GSO), the country’s consumer price index (CPI) in January 2012 was up only 1% against December 2011. Hanoi’s CPI increased by only 0.96% and HCM City’s inflation rate was up only 0.89% during the month.

At several markets across the country, goods prices increased by between 1% and 10% during days close to Tet compared to normal days.

In early days of the Lunar New Year, fast food such as noodles increased two and three folds in Hanoi and by 20% in several southern localities.

Passenger cars in many cities and provinces increased prices by between 20% and 60% during the festival while railway services went up by between 10% and 39%.