Prices have been dropping across the board as the government’s stabilization policy has set in and the US dollar-dong exchange rate is going down.
Co.op Mart, Vietnam’s leading retailer, said many powdered milk firms have reduced their prices by 3 to 5 percent while others have been maintaining the same prices but increasing product weights for the past two weeks.
Vietnam’s largest diary producer Vinamilk said it will increase the weight per box of its Dielac Alpha powdered milk by 15 percent without changing the price as of July 1.
This will help consumers save VND10,000 on each box, Vinamilk said.
Essence wash liquid producers are also giving consumers an extra 500ml on every two-liter bottle.
Prices of imported confectionary products have also gone down by 2 to 3 percent while cosmetics producers opt to offer customers gifts as discounts.
Nguyen Phuong Thao, director of Maximark Cong Hoa in Ho Chi Minh City’s Tan Binh District, said many producers working with her supermarket have also announced their plans to reduce prices.
Besides providing consumers with direct discounts, many producers are now working with supermarkets to launch promotional programs, hoping to increase summer sales by up to 15 percent.
Big C said it will kick off its biggest sales of this year during the summer with discounts of up to 50 percent on over 4,000 products.
As input costs for poultry farming have recently gone down by 7 percent, and demand is low, the HCMC Department of Finance has also asked producers to reduce poultry meat prices by VND2,000-7,000 per kg as part of its price stabilization campaign.
After poultry meat prices soared by VND20,000 per kg in the first six months of this year, many market goers said the price reduction is making things easier for them.
According to the management board of Tan Xuan Market in Hoc Mon District, fruits and vegetables have also been priced down as there is a large supply of these products everyday.
Many expensive products like spinaches, cabbages and carrots at this market have also fallen by 20 to 40 percent per kg.