Enterprises actively prepare Tet goods

VCN - Tet is the most exciting business time of the year and also an opportunity for businesses to increase revenue and improve production and business efficiency. Therefore, businesses are busy preparing the source of goods to welcome the "peak" end of the year.
Businesses need to be proactive when the economy in 2023  is still Businesses need to be proactive when the economy in 2023 is still "turbulent"
Enterprises actively prepare Tet goods
Production activities at Tan Quang Minh Trading and Production Company Limited (Bidrico). Photo: provided by the company

Ready supply for the market

In order to create an abundant supply, ensure quality, and stabilize prices, in the context that most input materials increase in price, many food and consumer goods enterprises are rushing to produce and prepare their goods early to diversify suppliers and optimize costs to be ready to meet consumer demand at the end of 2022.

As a business providing the "Fresh Meal" solution for 20 years in the Vietnamese market, Saigon Food always wants to bring the best value to consumers. This year, although the market has many fluctuations, Saigon Food always plans to prepare the best source of raw materials early, with a stable supply to be ready to serve the Tet needs of consumers.

With five factories and warehouses with an area of ​​​​over 33,000m2, Saigon Food has actively increased production output in the last two months of the year to meet the needs of consumers for Tet, ensuring price stability, stabilizing the market and preventing shortages.

Nguyen Dang Hien, General Director of Tan Quang Minh Production and Trading Company Limited (Bidrico), said that beverage businesses faced many difficulties due to the increase in input materials, causing product prices to increase accordingly, while consumer's income decreased, leading to purchasing power being not as good as expected. No matter how difficult it is, from now until Tet, the company tries to keep prices stable, and promote coordination with distribution channels to run promotions to stimulate purchasing power. At the same time, research and develop new products for the Tet season to diversify choices for customers and easily generate revenue.

Similarly, General Director of Song Huong - Song Huong Foods Technology Food Processing Co., Ltd., Nguyen Le Quoc Tuan, said that many input materials have increased sharply in price, some by up to 50%. However, the enterprise is committed to keeping the price the same as for Tet 2022. With the materials that can be stored, the unit has bought a lot from the beginning to have a stable price. At the same time, accept to cut profits to stimulate consumer demand.

Eggs are an indispensable item during Tet. Director of Vinh Thanh Dat Food Joint Stock Company Truong Chi Thien said that the business expects the number of eggs provided each day to increase by 30% compared to normal days, plus some semi-processed products from eggs, mainly sold through supermarkets.

To proactively supply for Tet, right from the middle of the year, Vinh Thanh Dat Food Joint Stock Company signed a contract to increase the number of eggs purchased from livestock farms in Long An and Ba Ria-Vung Tau provinces, as well as minimizing production costs to stabilize prices.

Stabilize prices, increase promotions

Price remains one of the prerequisites for consumers. The Covid-19 pandemic is still complicated, plus the inflation situation, the price of gasoline and oil increases causing people to tighten their spending.

Even people with high incomes save and pay when choosing to buy goods. Faced with that situation, many retail distribution systems, from November 2022, a series of discount and promotion programs have been implemented in supermarkets and stable sales points of the city's Department of Industry and Trade to serve the needs of people's demand for early Tet.

Deputy General Director of Saigon Trading Corporation (Satra) Pham Thi Van said: "In this period, input costs for production and distribution are both inflated, and consumers are very price-sensitive. As a distribution company participating in stabilizing the market, we have to select essential products and commit not to increasing the price of stable goods to serve the people.”

Nguyen Ngoc Thang, Operation Director of Co.opmart supermarket chain (belonging to Saigon Co.op), said that Saigon Co.op will increase its reserves by 30%-50% during this Tet 2023. Forecasting high purchasing power, from November, the unit started running the Lunar New Year promotion program, with a series of innovations, increasing the experience for consumers.

Ly Kim Chi, Chairman of the Food and Food Association of Ho Chi Minh City, said that besides difficulties, there are a number of favorable factors that help manufacturers and businesses implement production plans for Tet products.

For example, the drop in live hog prices has created opportunities for companies producing this product to access input materials that are much easier to breathe.

Moreover, prices of raw materials for animal feed production tend to decrease are factors that keep poultry egg prices stable.

According to Ly Kim Chi, manufacturers and businesses are actively responding, trying to optimize the supply of domestic raw materials as well as choosing export and import markets, thereby gradually reducing their dependence on imported raw materials as well as being dependent on some import markets.

In order to ensure the supply and selling price of goods, Le Huynh Minh Tu, Deputy Director of the Ho Chi Minh City Department of Industry and Trade, said that to stimulate consumer demand for shopping at the end of the year, the Department is continuing to lobby retailers to increase preferential discounts, share discounts and other costs to reduce pressure on selling prices and support consumers in difficult times.

In addition, the Department also coordinated with the Market Management force to strengthen the inspection of business establishments, retail businesses, and traditional markets, to prevent speculation, hoarding, and price increases to affect the market during the peak shopping season at the end of the year and during Tet 2023. It is expected that the volume of food and food products for the 2023 Lunar New Year of the Cat is nearly 40,000 tons.

By Thu Diu/ Huu Tuc

Related News

Proactive plan to meet customs management requirements at Long Thanh International Airport

Proactive plan to meet customs management requirements at Long Thanh International Airport

VCN - Director of Dong Nai Customs Department Le Van Thung requested the Ministry of Finance and the General Department of Customs to pay attention to directing so that after arranging and streamlining the apparatus, human resources can be immediately prepared to serve Customs at Long Thanh International Airport.
Enterprises focus on Tet care for employees

Enterprises focus on Tet care for employees

VCN - Tet bonuses are always an issue that receives special attention from employees at the end of each year. This year, the economy is facing many difficulties, many enterprises in the southern provinces have announced Tet bonuses, reflecting their tireless efforts to ensure the rights of employees.
Increasing consumption demand, steel enterprises face many opportunities

Increasing consumption demand, steel enterprises face many opportunities

VCN - Vietnam's steel industry is benefiting from increasing domestic and export demand for steel. However, entering 2025, the industry still faces many challenges.
Resolve problems related to tax procedures and policies for businesses

Resolve problems related to tax procedures and policies for businesses

VCN - Immediately after the end of the Dialogue Conference between the Ministry of Finance and enterprises on tax and customs policies and administrative procedures in 2024, the General Department of Customs proactively removed obstacles related to tax procedures and policies for the business community.

Latest News

UK a niche market for Vietnamese speciality coffee

UK a niche market for Vietnamese speciality coffee

The DakLak September 2nd Import-Export Company Limited (Simexco DakLak) said the UK is a strategic market for its speciality coffee products.
Vietnam-US trade thrives on effective mechanisms: trade counsellor

Vietnam-US trade thrives on effective mechanisms: trade counsellor

The economic and trade mechanisms between Vietnam and the US have shown efficiency throughout 2024, according to Do Ngoc Hung, trade counsellor and head of the Vietnam Trade Office in the American country.
Opening of overseas markets boosts coconut exports

Opening of overseas markets boosts coconut exports

Signed trade agreements are creating favourable conditions for coconut to truly become a key industrial crop. However, this is also a challenge that requires a sustainable development strategy so that coconut products can meet the increasing standard requirements of export markets.
VN faced with increasing trade defence investigations on rising protectionism

VN faced with increasing trade defence investigations on rising protectionism

Việt Nam’s exporters faced a significant increase in the number of trade defence investigation cases this year, on the back of rising protectionism worldwide, according to the Ministry of Industry and Trade.

More News

Việt Nam expects to officially export passion fruit to the US next year

Việt Nam expects to officially export passion fruit to the US next year

Negotiations on technical issues were already completed in August. Now, legal procedures are underway for the official export of fresh passion fruit to the US.
UK’s carbon tax to affect VN exports

UK’s carbon tax to affect VN exports

The UK’s carbon border adjustment mechanism will take effect in 2027.
Removing obstacles in granting certificates of exploited aquatic products

Removing obstacles in granting certificates of exploited aquatic products

VCN - Prime Minister Pham Minh Chinh requested to review all regulations related to the organization and issuance of certificates of origin of exploited aquatic products (SC) at fishing ports, issuance of certificates of origin of exploited aquatic products (CC), and amend inappropriate regulations that cause difficulties and hinder production and business activities in the field of exploitation, processing and export of seafood.
Promoting agricultural exports to the Japanese market

Promoting agricultural exports to the Japanese market

VCN - Japan's high-quality standards have become a driving force for continuous improvement in Vietnamese agricultural products to meet global consumer expectations and build a strong brand for Vietnamese agricultural products on the world map.
Agricultural exports in 2024 to exceed 60 billion USD?

Agricultural exports in 2024 to exceed 60 billion USD?

VCN - The agricultural sector has basically achieved and exceeded the set targets when the export turnover of agricultural, forestry and fishery products in the first 11 months of 2024 reached 56.74 billion USD, up 19% over the same period in 2023, the trade surplus reached nearly 16.5 billion USD, up 52.8%. This year's agricultural exports are expected to exceed 60 billion USD if the export value in December reaches over 5 billion USD.
Seafood exports expected to exceed $10 billion in 2025: expert

Seafood exports expected to exceed $10 billion in 2025: expert

The achievement of the $10 billion export milestone in 2024 is attributed in part to efforts to open and strengthen connections with key markets such as the US and the EU.
Top 10 Reputable Animal Feed Companies in 2024: Efforts to survive the challenges of nature

Top 10 Reputable Animal Feed Companies in 2024: Efforts to survive the challenges of nature

VCN - In the Report announcing the Ranking of Top 10 Reputable Animal Feed Companies in 2024 on December 12, 2024, Vietnam Report Joint Stock Company said that Vietnam's animal feed industry has faced many challenges from natural disasters and epidemics. But overcoming all, the industry continues to survive and has confidence in the future.
Vietnam's import-export surges 15.3%

Vietnam's import-export surges 15.3%

Vietnam's total import-export turnover reached 745 billion USD as of December 14, marking a robust 15.3% growth compared to the same period in 2023, according to the General Department of Vietnam Customs.
More Vietnamese firms interested in Saudi Arabia: Ambassador

More Vietnamese firms interested in Saudi Arabia: Ambassador

An increasing number of Vietnamese enterprises are showing interest in Saudi Arabia, particularly in the sectors of Vietnam's advantages and the Middle East country's needs, a diplomat has said.
Read More

Your care

Latest Most read
UK a niche market for Vietnamese speciality coffee

UK a niche market for Vietnamese speciality coffee

The DakLak September 2nd Import-Export Company Limited (Simexco DakLak) said the UK is a strategic market for its speciality coffee products.
Vietnam-US trade thrives on effective mechanisms: trade counsellor

Vietnam-US trade thrives on effective mechanisms: trade counsellor

The economic and trade mechanisms between Vietnam and the US have shown efficiency throughout 2024, according to Do Ngoc Hung, trade counsellor and head of the Vietnam Trade Office in the American country.
Opening of overseas markets boosts coconut exports

Opening of overseas markets boosts coconut exports

Signed trade agreements are creating favourable conditions for coconut to truly become a key industrial crop. However, this is also a challenge that requires a sustainable development strategy so that coconut products can meet the increasing standard requirements of export markets.
Increasing consumption demand, steel enterprises face many opportunities

Increasing consumption demand, steel enterprises face many opportunities

VCN - Vietnam's steel industry is benefiting from increasing domestic and export demand for steel. However, entering 2025, the industry still faces many challenges.
VN faced with increasing trade defence investigations on rising protectionism

VN faced with increasing trade defence investigations on rising protectionism

Việt Nam’s exporters faced a significant increase in the number of trade defence investigation cases this year, on the back of rising protectionism worldwide, according to the Ministry of Industry and Trade.
Mobile Version