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Supply - demand forecast for some staple goods in second half
The Government's domestic market management team has forecasted supply and demand on some staple goods in the second half of this year.
Accordingly, if there are not any abnormal weather conditions, the whole country's food production is likely to reach 36.5 – 36.8 million tonnes of paddy, in which paddy production for domestic consumption reaches about 28 million tonnes, for export 8.5 – 8.8 million tonnes (equivalent to 4.2 – 4.5 million tonnes of rice).
Supply sources of food meet sufficient consumption and export, but food prices will increase slightly due to an increase in input costs and an affect of world price, and only reduce when the harvest time is in full swing for the short time.
Sugar produced domestically and imported will meet sufficient consumption requirements of 1.35 million tonnes. Normally, sugar consumption rises in the third quarter (on the occasion of Mid-Autumn Festival) and the fourth quarter (Christmas, Solar New Year and Lunar New Year), so sugar will see a slight increase in price during the period.
Total of salt supply sources in the whole country will reach about 1.18 million tonnes, but demand for this product will be 1.34 million tonnes. The imbalance is expected to be offset through import.
For chemical fertiliser, demand for urea fertiliser for the crop from June to September is 430,000 tonnes but supply sources reach up to 480,000 tonnes.
In the second half, cement consumption will continue to go up, however supply sources are sufficient to meet the demand.
According to the Ministry of Construction, the seven cement plants will be put into operation with a total capacity of 7.81 million tonnes in the coming time. There will be no big changes in cement markets.
The domestic market management team requested major producers, importers and distributors should enhance their prestige and brand name through their active participation in stabilising market and curbing inflation.
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