On January 31, in an interview with Người Lao Động Newspaper, Mr. Trương Chí Thiện, General Director of Vĩnh Thành Đạt Food Joint Stock Company (V.Food), announced a 10% price reduction for eggs at stable egg selling points in Ho Chi Minh City.
Starting from February 1, Vĩnh Thành Đạt will lower the price of eggs by 10% in its market stabilization program at supermarkets, stores, and distributors.
“The current stable price of eggs is VND 33,500 per tray of 10 eggs, businesses will calculate their selling price to consumers based on their own plan, ensuring that the price reduces by VND 3,300 to VND 3,400 per tray.” – Mr. Thiện said.
According to Mr. Thiện, this promotion will last until the 10th of the first lunar month (February 19). Before this widespread price reduction during the Tet holiday, Vĩnh Thành Đạt had also implemented a price reduction for eggs at some major distribution systems. Results showed that egg consumption increased significantly during the promotion.
“The Tet market’s purchasing power has increased slightly, but it is still around 10% slower compared to the same period before Tet in 2023. Companies need to stabilize the market, prepare a large supply according to the city’s delivery plan, and have a reserve quantity, so they have to proactively reduce prices early to stimulate demand and avoid the risk of unsold goods after Tet.” – Mr. Thiện added.
Similarly, Ba Huân Food Joint Stock Company also announced a 10% price reduction for eggs from January 1 to February 24 (from the 22nd of the twelfth lunar month to the full moon of the first lunar month). In addition, Ba Huân also combines a 10% discount on some processed food items such as sausages, chicken meat, hotdogs, and spicy chicken feet.
“In the difficult economic situation, consumers are tightening their spending. Deep price reductions for essential consumer goods one week before Tet not only stimulate demand but also practically share the pressure with consumers.” – Ms. Phạm Thị Huân, Chairman of the Board of Directors of Ba Huân Company, said.
Currently, Ba Huân’s stable egg market price is VND 33,500 per tray of 10 eggs and duck eggs are sold at VND 38,500 per tray of 10 eggs.