Food prices drop as gasoline turns cheaper

By Thi Ha August 4, 2022 | 11:00 pm PT

Vendors are seen at a traditional market in Thu Duc, HCMC. Photo by VnExpress/Quynh Tran

Food prices have been falling by 5-10% at traditional markets following the recent decline in gasoline prices, while supermarkets are offering promotions to boost sales.

At traditional markets, pork prices are 6% down at VND160,000 ($6.84) a kilogram, and pangasius fish is 8% cheaper at VND60,000.

Hoa, a vendor at Can Cu Market in HCMC's Go Vap District, said she reduced her prices Thursday morning, but demand was still low, and she had to sell a portion at even lower prices.

Gasoline prices have fallen four times and by a total of 22% since June 21.

Supermarkets and grocery stores are also cutting prices of some products.

A 24-pack carton of Tiger beer is 7% down to VND365,000.

Trung Nguyen coffee prices have been cut by nearly 14% to VND50,000.

Cooking gas prices have fallen by 5% to VND430,500 per canister.

Supermarket media representatives told VnExpress they are negotiating with suppliers to bring prices down to stimulate demand.

The WinMart chain is selling some products at 10-20% lower than average market prices.

Saigon Co.op and MM Mega Market are offering discounts of up to 50% on some products.

But the prices of eggs and processed foods are not down yet, with producers saying they still face high costs.

A CEO of a food company in HCMC said gasoline only accounts for 5-10% of selling prices and therefore he has not reduced them yet.