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Instant noodles, milk, cooking oil all increased in price

Russia attacked Ukraine: Facing the galloping increase of gasoline prices, manufacturing and exporting enterprises also moved to increase selling prices because of the continuous escalation of transportation costs and production costs.

On March 11, the price of gasoline in Vietnam increased to nearly 30,000 VND/liter, marking a record price increase of this item so far. Although the Ministry of Industry, Trade and Finance has spent 750-1,000 VND from the Petroleum Stabilization Fund for each liter of gasoline and 1,500 VND for each liter of diesel.

In fact, the cost of gasoline, gas, and raw materials… simultaneously increased, putting great pressure on consumers’ spending, and at the same time increasing the burden on manufacturing enterprises, especially in the context of restoring production and business after a long time of social distancing.

Great price increase pressure

Many food production enterprises said that the situation of importing raw materials and commodity prices was facing difficulties while gasoline prices continuously set new peaks, making them unable to maintain their prices.

Mr. Kajiwara Junichi – General Director of Acecook Vietnam Joint Stock Company – said that since last year, the price of input materials and transportation costs have increased so much that businesses can’t compensate even with their best efforts. .

“In that situation, businesses had to increase the selling price for all products and apply from March 1, with the rate of increase in price varies by product,” he told Zing.

Hang Hoa mourning after Gia Xang Anh 1

Price fluctuations of consumer goods are mainly due to the shock increase in food, petrol and gas prices. Photo: Quynh Danh.

Survey at Top Market supermarket (Dong Da, Hanoi) products of Acecook brand increased slightly compared to before: Thai shrimp hotpot noodles cost 173,100 VND/box of 30 packs, Hao Hao noodles 3,600 VND/pack and 103,800 VND/box of 30 packages, De Nhat chicken noodle soup VND 6,400/pack…

Not only instant noodles, but many essential products such as milk, rice, beverages, canned food, household appliances… also simultaneously increased their selling prices.

From the beginning of March, 3A Nutrition Company Limited, the importer and distributor of Abbott milk, also announced a price increase of 45 items of Abbott Grow, Similac, and Pediasure brands. Accordingly, Abbott Grow Gold 3+ milk 1.7 kg is priced at 726,000 VND/box; Similac Neosure IQ type 850 grams price 562,000 VND/box; Similac Alimentum Eye-Q 400 grams priced at 375,100 VND/box…

Previously, Frieslandcampina Vietnam Co., Ltd. announced new retail prices, 21 nutritional milk products for children aged 0-6 years, all increased in the range of 5%.

A supplier of cooking oil in Ho Chi Minh City said that the price also increased continuously due to the influence of the world market. From March 10, Meizan Gold, Cai Lan and Orchild cooking oils increased by 2,000 VND/liter. From March 14, Neptune and Simply cooking oil also increased the same price at 2,000 VND/liter.

Talking to Zing, Ms. Nguyen Tran Ngoc Trinh – Director of Vnflour Co., Ltd. – a unit that produces and supplies flour for the brands Vifon, Thien Huong Food, CP Food,… said some of its products units had to adjust up 5-10%, even more.

“From 2021 to the beginning of this year, the price of wheat has increased by almost 100%, even at times, from more than 200 USD/ton increased to 300-400 USD/ton. Therefore, the price of flour supplied to manufacturing enterprises is also forced to change in proportion to the unit’s input material price,” she analyzed.

Gasoline Price Movements Over the Past 6 Months
Labels11/1010/2610/1111/2510/1212/2511/1/202221/111/221/21/311/3
E5 RON 92VND/liter216832311023669229172208222550231592359524571255302607028985
RON 95228792433824996239022280123295238762436025322262872683429820

“Accept the market economy”

Not only the food and food industries feel the heat of soaring raw material prices, but textile, steel, and wood enterprises… are also in a precarious situation of dizzying price increases.

According to Assoc. Prof.Dr. Dinh Trong Thinh, an economist, in the context that gasoline prices are expected to continue to rise in the face of the Russia-Ukraine conflict, manufacturing enterprises need to make efforts to save costs and restructure their operations. to keep costs to a minimum.

“For transportation activities, it is necessary to calculate the combination of inter-ships that can be used in both directions. In addition, it is necessary to exchange and discuss again with partners to re-sign contracts when gasoline prices change. Oil is rising very high and this is an issue that businesses need to pay attention to,” he said.

“It is important to include gasoline prices in production and business costs in a reasonable way, avoiding the situation of ‘dropping water in the rain’,” said economist Dinh Trong Thinh.

However, this expert believes that the market economy must be accepted and prices cannot be kept forever. It is important to include gasoline prices in production and business costs in a reasonable way, avoiding the situation of ‘dropping water in the rain’.

At the seminar “Vietnamese businesses before the impact of the Russia-Ukraine war” organized by the Association of High Quality Vietnamese Products on March 11, Dr. Tran Quoc Hung, Executive Director of the Institute of International Finance IIF in Washington DC believes that with rising prices on most commodities due to the impact of economic sanctions in Europe, Vietnam will certainly face challenges in terms of GDP reduction and inflation.

However, if businesses and the Vietnamese government have timely policies and directions, this will be the time to further promote economic growth, even though people and businesses may suffer losses at first. commodity prices increase.

Money flowers, diamond flowers... languidly waiting for customers on the

Money flowers, diamond flowers… languidly waiting for customers on the “path of love”

Flower stalls along the “road of love” Nguyen Van Cu (District 5, Ho Chi Minh City) on March 8 this year fell into the situation of many sellers but no buyers.

According to zingnews.vn

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