Beer prices rise 1 month before Tet
Beer prices rise 1 month before Tet
With a month to go for Tet (Lunar News Year) the HCM City beer market is heating up, with prices rising virtually daily.
The owner of a shop called Beer Loan on Tran Xuan Soan Street, District 7, told Viet Nam News that a case of 24 cans of Tiger beer has seen its price increase by VND6,000-7,000 in recent weeks to VND314,000 (US$13).
The prices of all brands would definitely increase in the coming days, she said.
A beer seller in Tan Phu District said prices were rising by the day.
Retailers predicted the prices to make a surge just before Tet, which falls on January 28 this time when they sell beers produced specifically for the festival.
The owner of Beer Loan explained that breweries had sold all the beers packaged specifically for Tet and traders had bought them and were waiting for the holiday to sell at higher prices.
She said consumers like to buy beers made specifically for the occasion to gift family and friends.
While retail prices have been increasing, breweries said they are making efforts to keep prices steady and would fully meet demand.
Though refusing to divulge production figures for Tet, Sapporo Vietnam’s General Director Mikio Masawaki told Viet Nam News that his company had increased production of Sapporo Premium Beer by 20 per cent since there is high demand for canned beer during Tet.
Sapporo has not increased prices and in fact, has co-operated with distributors to keep them steady, he said.
Prices would not rise if the demand is fully met, he said, adding that the company expected demand to be high between the end of this month and mid-January.
A Heineken Vietnam spokesperson told Phap Luat HCM City (HCM City Law) newspaper that the company would surely meet demand even if it increases by 15-20 per cent during Tet.
Talking about the increase in beer prices, the chairman of the Viet Nam Association of Beer, Wine and Beverages, Nguyen Van Viet, told the newspaper that companies were under pressure from higher special consumption tax.
Furthermore, demand always rises during Tet and provides retailers the opportunity to increase profits, he said.
The municipal Department of Industry and Trade has said it would monitor prices of consumer goods during Tet, including those of beers.
Beer consumption in the city is expected to increase by 30 per cent during the period to 40 million litres, it said.
