- Vietnam is suffering from fluctuations in world raw material prices because most of them depend on imports. Not only increasing prices, but many input materials are also still scarce and cannot be bought.
- Many consumer goods and green vegetables increased in price. It is expected to continue to increase soon.
- Taxi service is sluggish, the number of passengers has decreased by 60-70% compared to before, the reason is that people are still afraid to use public cars to move.
Input costs skyrocketed
Mr. Nguyen Duc Cuong, director of a business manufacturing plastic molds and components in Bac Giang, said that increased production input makes it difficult for businesses. For processed products, 80% of the product value is raw materials. He added that Vietnam is suffering from fluctuations in world raw material prices because most of them depend on imports. Not only increasing prices, but many input materials are also still scarce and cannot be bought. When goods increase in price, it is easy to see a situation of “hogging goods”, manipulating the market.
Regarding the immediate solution, according to Mr. Cuong, enterprises can switch to the direction of only receiving outsourcing and self-supplied materials by partners. For products that enterprises take care of their materials, they can negotiate and discuss with customers.
“Not only are prices rising, but supplies are also becoming scarce. Businesses are just doing it in moderation. If they do, they will still lose; if they do not, they will close, so we must still find ways to keep production going “Mr. Tran Van Linh, the Chairman of a seafood company, stated
Commodity prices fluctuate
According to a reporter’s survey, many consumer goods also increased significantly. Phuong Hue, the owner of a grocery store on Tran Thai Tong Street (Hanoi), informed that since the outbreak of the COVID-19 epidemic, most consumer goods have increased in price.
Typically, cooking oil and instant noodles both increase in price from 2,000 to 4,000, depending on the type. “Other items such as fish sauce, flour, main noodles, and salt have also increased but not significantly. Besides, depending on the policy, the level of incentives, the source of imported goods, each store will offer the best price for customers to compete,” said Ms. Hue.
The price of green vegetables also increased sharply
In many traditional markets in Hanoi, the prices of vegetables, tubers, and fruits are increasing relatively strongly. Ms. Nguyen Ha, a vegetable seller in Nghia Tan (Cau Giay, Hanoi), said that from the end of last week, the price of green vegetables increased sharply due to prolonged heavy rain. Even some small traders could not import goods due to difficulties in transportation and travel.
She predicts that the price of green vegetables will increase in the next few days because many vegetables cannot tolerate moisture, so they die every time it rains. Moreover, prolonged heavy rain also slows down the transportation and circulation of goods, so prices will be pushed up.
Taxis are sluggish, customers plummet
In the days of reopening, Mr. Nghiem Hieu – a taxi driver in Hanoi – has a headache because there are too few customers. According to the regulations, if drivers want to participate in the pick-up and drop-off activities, they need to meet all the standards.
Specifically, drivers must receive at least one dose of COVID-19 vaccine; 5K compliance, medical declaration; testing for SARS-CoV-2 weekly (7 days/time)… Before going to work, Mr. Hieu spent 250,000 VND to do the COVIID-19 quick test service. However, on the first day, he only received 4 guests, earning less than 100,000 VND.
Currently, the number of taxi passengers has decreased by 60-70% compared to before. Mr. Hieu assessed that the main reason for the sluggish taxi service is that people are still afraid to use public cars to move around. Moreover, after a long time of separation, people’s incomes decrease, so people tend to save more.
Besides, the high price of gasoline and oil is also a big challenge for drivers. With the currently small number of customers, if you deduct fuel and COVID-19 testing costs, many drivers say they are almost working for free.