Vegetable prices soar along with demand after Tet holidays

At Hanoi’s Nghia Tan Market, cabbage prices have tripled to VND25,000 ($1.07) since last Thursday, the last day of lunar 2022, while morning glory prices have risen by 100% to VND15,000 per pack.

Tomato prices are up by a third to VND40,000.

Loan, a vendor at the market, said it usually takes a week for prices to stabilize after the Lunar New Year holidays.

Ha, a seller at Ha Dong Market in the namesake district, said demand rose on Friday as eateries reopened after a seven-day break, causing prices to soar.

“When I went to the wholesale market only one or two vendors were open,” she said, adding that since the weather has turned cold in the north many farmers had not resumed work, which hit supply.

In HCMC, vegetable prices at the Binh Dien, Thu Duc, Hoc Mon, and Thu Duc wholesale markets were 30-50% higher than before the holidays.

The Ministry of Finance’s price management department said vegetable prices in Hanoi and many northern localities started to rise on Wednesday as demand went up but supply was low due to the cold weather.

But it is only temporary and prices would return to normal soon, it assured.