Authorities monitor food prices for New Year
Authorities monitor food prices for New Year
Shoppers are finding that their pockets are emptying more quickly than usual as some vendors take advantage of rising demand to increase their prices in the run up to the New Year.
The Vientiane Industry and Commerce Department has issued an announcement on price control in a bid to protect consumers against unfair high prices.
Prices typically rise over the New Year as traders are seized by a mark-up mentality in the face of surging demand.
Some traders stockpile their wares in hopes of making a profit when other vendors have depleted their stocks.
The Vientiane Industry and Commerce Department is also urging business operators and vendors to quote prices in kip.
The department has directed district offices to closely monitor prices and ensure consumers are not overcharged.
According to announcement, one kilo of beef sells for 65,000-70,000 kip, while pork sells for about 35,000 - 38,500 kip per kilo in some Vientiane markets.
Vendors sell farmed chicken for 25,000 to 30,000 kip per kilo, while the price of Lao free-range chicken remains high at 40,000 kip per kg.
One kilo of duck sells for 35,000 to 40,000 kip while tilapia fish costs 19,000 to 23,000 kip per kilo.
The supply of these products is still sufficient to keep up with demand.
The consumption of items such as pork and fish is projected to be higher than beef because they are cheaper, according to market authorities.
