Over the last week, many families across Da Nang have been forced to tighten their belts as the prices of many essential products and services have risen significantly.

People showing their concern over soaring prices of many items as the Lunar New Year 2020 is fast approaching.

Mr Bui Huy Dung residing in Cam Le District said he was quite shocked by paying 45,000 VND for a bowl of ‘bun bo’ (beef rice vermicelli) on Dong Da Street. He added, earlier, the prices of ‘bun bo’ ranged between only 25,000 VND and 30,000 VND per bowl.

Traders and consumers citywide have raised their concern over the soaring prices of basic commodities which are both imported and locally produced.

For example, in these weeks leading up to Lunar New Year 2019, the consumption of glutinous rice has gone by up to 25% against the same period last year.

An owner of a large food distributor on Trung Nu Vuong Street said the prices of glutinous rice, especially imported ones, continued to rise significantly, whilst the prices of normal rice remained stable.

The soaring commodity prices have resulted in the hike in the prices of input materials. This has caused numerous difficulties for small traders who are busy in preparing for Tet goods for customers.

A producer of ‘nem chua’ (fermented pork roll), and ‘cha bo’ (grilled beef roll) on Hoang Dieu Street, remarked that foodstuffs were now very expensive to afford and that the situation was seriously affecting family-owned businesses.

Most notably, consumer spending in such major traditional markets as Hoa Cuong Wholesale, Con and Dong Da have recently gone down due to a sharp rise in the prices of commodity goods, especially pork.

Shoppers at the Moi Market

A spokesperson for the municipal Department of Industry and Trade explained that the soaring pork prices in recent weeks have resuled in the hike in commodity prices.

Pork prices in the city have surged to new highs in the past two weeks. In particular, the prices of pork climed by 10-15% compared to the previous months, and by 40-45% against the same period last year.

Department Director Nguyen Ha Bac asked food producers and traders to produce processed pork products from imported frozen pork to better meet the needs and tastes of local residents.

The focus will be on encouraging people to buy chicken, duck and beef instead of pork in order to reduce pressure on the local market.

By MAU DON - Translated by MAI DUNG