Vietnam: Ho Chi Minh City refused to increase the price of poultry eggs to stabilize the market amid the pandemic

Published Jul 11, 2021

Tridge summary

The Department of Finance in Ho Chi Minh City has announced an increase in the prices of poultry eggs for businesses participating in the market stabilization program. The price increase affects grade 1 chicken eggs, which will cost between 1,500 and 2,630 VND more per dozen, and Type 1 duck eggs, which will now cost between 2,000 and 2,420 VND more per dozen. The price hike is due to the impact of COVID-19 on global animal feed exports, leading to a significant increase in feed prices, and rising costs of raw materials, packaging, drugs, and vaccines for poultry. The Department of Finance is cautiously adjusting these prices to maintain market stability and avoid affecting consumer psychology negatively.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Department of Finance of Ho Chi Minh City said that businesses participating in the market stabilization program proposed to adjust the prices of poultry eggs participating in the program. Specifically, grade 1 chicken eggs are adjusted to increase by 1,500 - 2,630 VND/dozen; Type 1 duck eggs increased from 2,000 to 2,420 VND/dozen. According to the businesses participating in the program, due to the complicated situation of the Covid-19 epidemic, all industries have been severely affected, including the livestock and agriculture industry. Specifically, countries that hold the source of animal feed materials such as the US, Argentina, and Brazil continuously tighten exports. This leads to a continuous increase in the price of corn and soybean meal, the main ingredients in feed, and up to now, animal feed has increased by nearly 25% compared to the first quarter of 2021. In addition, the price of raw materials for poultry eggs fluctuated from 19%-21% compared to the beginning ...

Source: tieudung