Ministry calls for price controls over Lao New Year
Ministry calls for price controls over Lao New Year
The Ministry of Industry and Commerce has advised local authorities to take full responsibility for controlling product prices over the Lao New Year (Pi Mai) holiday.
The ministry is directing provincial industry and commerce sectors and other relevant sectors to closely monitor the price of goods, from the producer to market.
The main items under scrutiny are rice, meat, fish, chicken and vegetables, as their price has a direct impact on household budgets.
Local authorities should also encourage producers and farmers to boost productivity so that there are sufficient products to supply market demand.
But market traders say they believe the prices of vegetables and other produce could increase over the holiday due to a drop in the number of vendors.
Despite the industry and commerce sector having requested local authorities to take full responsibility for price control over the holiday, some traders will still take advantage of the situation.
Special occasions are a good opportunity for vendors to sell their products for a higher profit.
In previous years, vendors say, the price of vegetables such as onions, mint, tomatoes, Chinese cabbage and lettuce increased because many traders took a holiday while demand increased.
However, the prices of items that are controlled by the government, such as beef, pork and fish, usually remain stable during times of high demand.
Pork is selling for not more than 38,000 kip per kilogramme, sticky rice at 7,500 -8,000 kip, non-glutinous rice for 8,000 -9,000 kip per kg, beef at 70,000-80,000 kip per kg and tilapia at 18,000 kip-22,000 per kg according to the Domestic Trade Department.
Prices in general have remained steady so far this year, while some have gone up. During the New Year holiday at the end of December 2016, the price of onions and coriander rose from their normal price of 10,000 kip per kg. Lettuce, usually priced at 8,000 kip, also rose in price, while the price of Chinese cabbage, melons, limes, tomatoes and eggplants, which normally sell for 5,000 kip per kg, also increased. Potatoes were another item that rose above their normal sale price of 6,000 kip per kg.
The price increase was attributed not to higher consumption or economic factors but because there were fewer vendors selling goods.
Vendors who do keep their shops open usually take the opportunity to make some extra profit by raising their prices a little.
