As the Lunar New Year of the Snake (Tet) approaches, Vietnam's Tet markets are bustling with both luxurious and bargain produce. Imported cherries are topping the charts as one of the most expensive fruits, selling for up to 2 million VND/kg (approximately $82), yet they are selling out quickly. Meanwhile, “rescued” durians are being offered at an astonishingly low price of just 50,000 VND/kg (around $2).

Imported cherries have become a popular gift item for Tet celebrations in Vietnam, sourced from countries like Chile, Australia, and New Zealand.

While previous years saw a more affordable cherry market, this year's prices have surged significantly, with the cheapest varieties starting at 220,000 VND/kg ($9). Premium cherries, however, command prices as high as 2 million VND/kg, yet still fly off the shelves.

According to Bui Ngoc Lan, a fruit shop owner in Hanoi's Thanh Xuan district, cherries remain a highly sought-after gift, especially premium varieties.

Despite economic challenges that have led many families to tighten their Tet budgets, high-quality cherries continue to thrive as a luxury option for gifting during the festive season.

In stark contrast to the skyrocketing prices of cherries, “rescued” durians have made a splash in Tet markets, selling for as little as 50,000 VND/kg.

This phenomenon has been spotted on major streets in cities like Hanoi, Hai Phong, and Quang Ninh, as well as in online marketplaces.

These durians, originally meant for export to China, were returned due to shipping delays. Sellers have labeled them as “rescued” products, emphasizing their export quality and attractive pricing. A single box weighing 8–9 kilograms is priced at just 450,000 VND ($18), with many sellers offering a one-to-one replacement policy for any defective fruit. Online posts promoting the durians have generated hundreds of comments, orders, and shares from interested buyers.

Green bananas are another hot commodity in Tet markets, with prices skyrocketing in northern Vietnam. In the lead-up to Tet, prices for green bananas surged to 450,000–500,000 VND per bunch (approximately $18–20), double the rates from last year. Premium bunches, often used for altar offerings, are particularly costly.

To stabilize the market, green bananas from southern Vietnam have been transported to Hanoi and other northern cities. These southern bananas are more affordable, with prices ranging from 35,000–50,000 VND/kg ($1.50–$2). However, consumers remain cautious about their quality, fearing that cold transportation could shorten their freshness for Tet rituals.

While some agricultural products are seeing unprecedented demand, flower farmers in Hanoi’s Tay Tuu district are facing challenges as prices for many blooms drop. Chrysanthemums are now sold for just 2,000 VND per stem (8 cents), half the price of last year. Violet flowers have also declined to 2,500 VND per stem, as overproduction has saturated the market.

On the other hand, roses have seen a price increase, with prices rising to 8,000–12,000 VND per stem (30–50 cents), due to limited supply following adverse weather conditions.

Tet has also boosted demand for services like house cleaning and car washing, with prices doubling or tripling as the holiday approaches. Cleaning services, which typically cost 60,000 VND per hour, have surged to 230,000 VND per hour just days before Tet.

Similarly, car wash prices have spiked, with small cars costing 100,000 VND per session ($4), compared to just 50,000 VND on regular days. Beauty salons are also working at full capacity, offering haircuts, nail services, and eyelash extensions. These services have increased by around 10%, yet remain fully booked due to the high demand for festive preparations.

Hanh Nguyen