𝗟𝘂𝗻𝗮𝗿 𝗡𝗲𝘄 𝗬𝗲𝗮𝗿 𝟮𝟬𝟮𝟱, 𝘀𝘁𝗼𝗰𝗸𝗲𝗱 𝗮𝗻𝗱 𝗿𝗲𝗮𝗱𝘆! 🥡🥢
Is the Lunar New Year an opportunity for food companies to solidify their partnerships with suppliers? 👀🥠
"We have partnered with suppliers, and most are supportive of our efforts to keep prices stable. For vegetables, we have contracts and funding with seven key suppliers to ensure that key items such as carrots, tomatoes, cabbage, bitter melon, and cucumbers are priced above the market average" - Nguyen Thi Kim Dung, director of Co.opmart Hanoi
The Lunar New Year means ensuring that ingredients for the festivities are abundant each year.🥟 To accomplish this, key industry players in Asia expand their production and increase their inventory while stabilizing prices. 🤝
🍜 𝗙𝗲𝘀𝘁𝗶𝘃𝗲 𝗴𝗼𝗼𝗱𝘀: Since early October, the Hi-tech Organic Vegetable Production and Consumption Cooperative in Dan Phuong District have been expanding their cultivation area for spices, premium vegetables, and leafy greens for the Lunar New Year.
→ For the Holiday, companies 𝗵𝗮𝘃𝗲 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝘁𝗵𝗲𝗶𝗿 𝘀𝘂𝗽𝗽𝗹𝘆 𝗼𝗳 𝗳𝗲𝘀𝘁𝗶𝘃𝗲 𝗴𝗼𝗼𝗱𝘀 𝗯𝘆 𝗮𝗻 𝗮𝘃𝗲𝗿𝗮𝗴𝗲 𝗼𝗳 𝟳-𝟮𝟱% 𝗮𝘀 𝗮𝗯𝗼𝘂𝘁 𝟵𝟬% 𝗼𝗳 𝘁𝗵𝗲𝘀𝗲 𝗳𝗼𝗼𝗱𝘀 𝗮𝗿𝗲 𝗩𝗶𝗲𝘁𝗻𝗮𝗺𝗲𝘀𝗲, especially local agriculture products. By expanding their production, facilities ensure sufficient goods for the festivities.
🍙 𝗠𝗮𝗿𝗸𝗲𝘁 𝘀𝘁𝗮𝗯𝗶𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻: Representatives from major distributors, such as Saigon Co.op, BRGMart, HaproMart, and Central Retail in Vietnam, have increased their supply inventory by 25-30% compared to Lunar New Year 2024.
→ Vissan, a leading livestock processing company, has increased output 𝘁𝗼 𝘀𝘂𝗽𝗽𝗹𝘆 𝟭,𝟮𝟬𝟬 𝘁𝗼𝗻𝘀 𝗼𝗳 𝗳𝗿𝗲𝘀𝗵 𝗳𝗼𝗼𝗱 𝗮𝗻𝗱 𝟰,𝟬𝟬𝟬 𝘁𝗼𝗻𝘀 𝗼𝗳 𝗽𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝗱 𝗳𝗼𝗼𝗱 𝘁𝗼 𝗼𝘃𝗲𝗿 𝟭𝟮𝟬,𝟬𝟬𝟬 𝗼𝘂𝘁𝗹𝗲𝘁𝘀 𝗻𝗮𝘁𝗶𝗼𝗻𝘄𝗶𝗱𝗲.
🛒 𝗦𝘂𝗽𝗲𝗿𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝘂𝗿𝗴𝗲: Like other sectors in the food industry, supermarkets 𝗲𝘅𝗽𝗮𝗻𝗱 𝘁𝗵𝗲𝗶𝗿 𝗶𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗯𝘆 𝗮𝗯𝗼𝘂𝘁 𝟯𝟬-𝟰𝟬% 𝗰𝗼𝗺𝗽𝗮𝗿𝗲𝗱 𝘁𝗼 𝗻𝗼𝗿𝗺𝗮𝗹 𝗹𝗲𝘃𝗲𝗹𝘀, and by nearly 10% compared to last year Lunar New Year. However, supermarkets aim to keep prices stable while increasing promotional offers.
📈 𝗥𝗶𝘀𝗶𝗻𝗴 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀: Local companies are under the spotlight during the Holiday as the Hanoi Department of Industry and Trade encourages the population to buy local products to stabilize the market.
#SIALParis #FoodIndustry #LunarNewYear #SupplyChain #Production