Traders in HCM City are earning big profits by driving up the prices of Tet specialties by up to five times their original prices.
Wine gourd shaped grapefruits for sale at a stall in HCM City
A quick survey has found that despite higher production costs, most fruit prices are the same as last year.
Wine gourd shaped grapefruits are sold at VND300,000-700,000 (USD14.3-33.5) each with major outlets in HCM City, Hanoi and central localities.
Vo Trung Thanh, Chairman of Phu Tri A Wine Gourd Shaped Grapefruits Co-operative in Hau Giang Province said, “Prices of grapefruits are the same as or even a bit lower than the previous year. We charge supermarket VND800,000 (USD38.3) each as the highest price. The same prices are applied for traders from Hanoi and HCM City.”
However, prices of such fruits in HCM City are driven up by from two to three times compared to their original prices. A wine gourd shaped grapefruit is sold at as much as between VND2.5 million and VND3.5 million (USD119.8-USD167.7).
Dang, an owner of a wholesale fruit stall at Luy Ban Bich Street in Tan Phu District applies a higher price of VND2 million (USD95.8) each.
He explained that higher selling prices were the result of fewer supply triggered by unfavourable weather, along with high transportation and preservation costs. Big orders are discounted 5%.
Giang, who lives in Go Vap District, said that she planned to buy a pair of such special grapefruits as Tet gifts but has decided to leave it after she realised the prices.
Big profits
According to Thanh, due to unfavourable weather and insect attacks, over 30% of their harvest was substandard. This means that only around 8,000 grapefruits will go on sale.
Apart from the special grapefruits, Phu Tri A Agricultural Promotion Club grows wine gourd shaped watermelons. They expect to harvest around 3,600 such fruits a week before Tet, he said.
Among specialities, gold bullion-shaped melons on which you could read the words “Tài, Lộc, (literally translated as “Talent and Wealth”) are much more expensive as it takes more time and effort to produce one, he noted.
Craftsman Tran Thanh Liem, who designed special melons in Can Tho City’s Binh Thuy District, said a pair of the fruits fluctuates at around VND3 million (USD143.7) in recent years. However, many traders in HCM City have driven up prices to as high as from VND7-8 million (USD335.4-383.3) each.
In addition to special fruits, many people have rushed to find special dishes for Tet.
Dong Tao chickens are very popular. Such chicken originate from the northern province of Hung Yen and have been widely raised in many localities across the countries including Dong Nai Province and HCM City.
Farm owners sell such poultry for VND300,000 (USD14.37) per kilo but several restaurants in HCM City are applying prices of from VND600,000-900,000 (USD28.7-43.1) per kilo. Prices can even reach VND4-6 million (USD191.6-287.5) per chicken.
