Emivest Company admits unreasonable hike in egg price

The Emivest Feelmill Company on January 16 admitted that they have indeed caused an unreasonable hike in the price of chicken eggs, leading to instability in the market and much consumer concern.

Emivest Company has admitted to an irrational egg price hike (Photo: SGGP)

They were speaking at a meeting with authorized organs in Ho Chi Minh City and the neighboring province of Binh Duong, to clarify the recent egg price hike.

At the meeting, authorized organs proved that the egg supply in HCMC had not reduced but increased, hence the hike was unjustified.

On the same day, the company lowered the price to VND23,200 for a pack of ten chicken eggs and said they would further reduce to VND20,200 by January 19.

Emivest also promised to keep the chicken egg price stable from now until Tet Lunar New Year.

Dao Thi Huong Lan, director of the Department of Finance in HCMC, said that the egg price increase by Emivest caused instability in the market and violated the law.

She proposed the tax department in Binh Duong Province charge tax on revenue generated by the company on the recent hike of egg price.

HCMC will send a report to relevant ministries and departments to propose measures to strictly handle CP and Emivest Companies for their irrational price hike.

Because of tough responses from authorized organs and Co.opMart Supermarket, which has refused to sell eggs supplied by CP Company, the latter slashed egg prices by VND700-800 per egg to cost VND2,160 since January 16.

However, the company has not reduced prices in the northern region, which have increased four times within the last one month.

At retail markets, the price of chicken egg remains high at VND2,800-3,100 per egg and for duck egg at VND3,100-3,300.

Nguyen Tien Dung, director of Co.opMart Supermarket in Hanoi said that CP Company has not made any move to trim down egg prices in the northern region.

Co.opMart Hanoi has been forced to stop selling eggs supplied by CP Company as they are selling eggs under the price subsidized program.

Authorized organs in Hanoi have yet to meet with representatives of the CP Company to clarify their reason for the sudden hike in egg prices.

Related articles:
City has abundant supply of eggs: Dep Chairwoman
Unreasonable price hike of chicken eggs in HCMC

By staff writers – Translated by Hai Mien

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