At Ben Thanh Market, processed and dried foods like gio cha (pork pastes), gio thu (pig's head paste), dried shrimp and cuttlefish, lotus seed, cashew nut, and chestnut have all skyrocketed.

Dried shrimp, for instance, increased by VND100,000-150,000 per kilogramme from last month to VND350,000-500,000.

The prices of vegetables and fruits have also shot up, traders at Ba Chieu Market said, warning of further increases in the run-up to the lunar New Year.

Pork and cu kieu (pickled scallion heads) prices rose slightly from last week.

According to the city Market Management Department, confectionery and processed-food prices have risen by at least 10 per cent since last month.

In Ha Noi, nam huong (thin-top mushroom), moc nhi (cat's ear), mang kho (dried bamboo shoot), and green peas have all seen their prices skyrocket at major markets.

Thin-top mushrooms, for instance, are now VND300,000 a kilogramme compared to VND250,000 earlier.

In HCM City, the prices of alcoholic beverages have also risen. Retailers in Districts 8 and Tan Phu reported that beer prices are up by VND10,000-20,000 for a crate of 24 cans.

Shopkeepers in traditional markets and retailers blame the price hikes on a sudden surge in demand and speculation by wholesalers.

Prices stable

But in HCM City's supermarkets, prices are stable or just marginally higher, thanks to the city's price stabilisation programme.

The supermarkets said they can meet the Tet festival demand since they have stocked enough inventory.

Several have, in fact, also launched promotions to stimulate buying.

Sales are expected to increase by 30 per cent over the same period last year.

Supermarket assured that prices would not suddenly rise before Tet (Lunar New Year) – which falls on February 14 this year – because of commitments by producers and distributors.

But Ngoc Anh of Binh Thanh District was disappointed with the city's arrangements. Though outlets have been opened to sell essential goods under the price stabilisation programme, she said, not enough have been set up.

Besides, only eight items have found a place in the programme, enabling sellers and distributors to hoard other items and push up their prices, she said.

VietNamNet/Viet Nam News