Storms and floods have caused an unusual rise in vegetable prices in Vietnam.
What is happening?
according to Fresh PlazaHo Chi Minh City sees gains of 20% to 40% on product prices over the period of a week. This is especially true of cucumbers, herbs, and leafy vegetables such as lettuce and spinach. Some prices have doubled since mid-October.
Nguyen Nguyen Phuong, Deputy Director of the Department of Industry and Trade of Ho Chi Minh City, said news“In the Mekong Delta, floodwaters have risen, shrinking agricultural area. Lam Dong Province has suffered landslides, hampering transportation. In the northern and central regions, prolonged storms and floods have caused severe damage to crops. With cold weather soon arriving in the north, supplies are likely to remain volatile.”
Heavy rains and tidal waves inundated southern Vietnam and surrounding provinces. Supply in wholesale markets has decreased significantly, negatively impacting sales across the board.
“The price of a plate of rice was 35,000 VND [$1.33]. Now we should be paid between 40,000 VND to 45,000 VND [$1.52 to $1.71] To cover the high costs of transportation, utilities and rent,” he was a rice shop owner in Ban Co Ward Quoted In the article.
Why is the rise in vegetable prices worrying?
Rising prices have caused more people to stay home and avoid unnecessary purchases, directly and negatively impacting the economy.
What is even more alarming is the extent to which extreme weather events affect our daily lives.
Extreme weather events are caused by high temperatures. With this year set to be the hottest on record, extreme weather is becoming more intense and frequent. It is wreaking havoc on farmers, crops and economies around the world.
Weather can reduce a farm’s yield, which determines demand and pricing. When food becomes scarce, the price rises due to lack of supply. Farmers want to make a profit, but consumers pay the price.
What’s going on with the price hike?
Demand for fast and affordable food is slowing in Vietnam. Meanwhile, Fresh Plaza I mentioned Major retail chains have come up with price-fixing programs to boost sales.
Saigon Co.op launched an end-of-year promotion with discounts ranging from 5% to 50% on products and expanding the network. It includes the opening of Co.opmart Thong Nhat.
MM Mega Market Vietnam has started the “Everyday Good Prices” program. More than 2,000 products are discounted between 10% and 35%.
And go! The retail system is running its “Buy More, Save More” campaign. They offer discounts of up to 50% and source fresh vegetables and meat.
The plan is to continue promotional activities until the end of the year. Fung He hopes They will support and encourage buyers trying to manage inflation.
As severe weather becomes more common, grocery prices will rise as well. Know how to plan ahead and Shop smarter at grocery The store will be crucial. In addition, there are tips for preserving your food Fresh for longer And great ideas for What to do with leftovers.
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