In Vietnam, Prices For Fuel, Food, Gold, Building Materials Exploding

[hatrack]

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The gold and petrol surge has made prices of other related products including steel, iron, aluminum, and cables leap up. On the international scale, gold is at US$770 per ounce and the rate is likely to touch $800. This is attributed to rising demands for reserve purposes.

Urea fertilizers have gone up by $94-$112 per ton while DAP (diammonium phosphate) fertilizers $178-$200. According to the Vietnamese Association of Fertilizers, as the spring-winter crop is approaching, fertilizers will be in great demand while domestic production only meets 65 percent. It predicts fertilizer prices to continue their increase.

Pork, chicken, vegetables and fish have too gone up in price. Liveweight pork is sold at VND18,000 per kg at provinces in the south and VND25,000 in Ho Chi Minh City.

But pork supply is dwindling. According to Mr. Huynh Van Minh, director of Saigon Trading Group (Satra), in previous years, there was enough pork for pork pies and sausages for the Lunar New Year but this year, prices are rising and shortage of pork supplies will move toward its peak in the Lunar New Year.

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http://english.vietnamnet.vn/biz/2007/10/750769/