The Consumer Council conducted an annual poll of the prices of 200 common household food items and daily necessities at three major supermarket chains - China Resources Vanguard, ParknShop and Wellcome. It said the average increase was much higher than that of the Composite Consumer Price Index, which rose by 4.1 per cent.
The highest average increases were seen in the prices of canned fish, which leapt 18.1 per cent; eggs, up 17.5 per cent; and milk powder, which was 17.3 per cent higher. The only decline was in alcoholic drinks, whose prices fell 5 per cent.
Academics said runaway food prices were "not surprising", as the appreciation of the yuan made food imports more expensive and in an environment of higher inflation in general.
Billy Mak, an associate professor in
But he emphasised that in-depth research was required to determine the extent of their control over prices.
Professor Hui King-man, chairman of the Consumer Council's publicity and community relations committee, said retailers should maintain reasonable prices to help the public cope with inflation.
Consumers were also advised to shop around at different retail outlets and to compare prices across brands.
ParknShop said price increases on most of its products were below the market levels, and that it had borne some of the higher costs in lower margins. The chain has rolled out a series of discounts.
Rival chain Wellcome said price increases could be attributed to a range of factors, including an unstable economic outlook, yuan appreciation and the soaring price of raw materials.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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