The price of chicken is increasing rapidly in the capital as demand surges before Tet. — VNA/VNS Photo Dinh Hue

HA NOI (Biz Hub) —  The price of chicken is increasing rapidly in the capital as demand surges before Tet.

Chickens, one of the most important offerings on traditional Vietnamese altars during Tet, cost 20 to 30 per cent more than on regular days. At Hom Market in Hai Ba Trung District, chickens sold for VND180,000 (US$8.5) per kg, an extra VND40,000 ($2).

Nguyen Thi Lan, a vendor at Cau Giay Market, told Tien Phong (Vanguard) newspaper that the chicken price had been rising since the beginning of February.

"After Wednesday [Kitchen Gods' Day], the price might increase every day," she said.

Customers tended to store food before Tet as they were afraid that food providers would fail to meet demand, causing prices to increase, according to Ha Noi Supermarket Association Chairman Vu Vinh Phu.

A vendor at Ngoc Ha Market acknowledged that many of her customers had already booked chickens, especially breeds used for offerings, as they feared there would not be enough chickens for the holiday.

The surging price, however, does not benefit the sellers any more than it does the customers.

Tran Hop, a chicken vendor at Hom Market, complained about the high price of the poultry even when she bought directly from farmers.

"It is very hard now to collect the chickens from the farmers. Despite selling many, my profit is somehow little," she said.

Animal Husbandry Association of Viet Nam president Nguyen Dang Vang said that the increasing price of the chicken was nothing compared to the rising cost of farming-related products, such as poultry feed, which began a long time before Tet.

"This increasing chicken price cannot provide much profit for farmers," he said. — VNS