Rose prices in HCM City have surged in recent days, especially on Valentine’s Day (February 14) due to high demand and limited supply, according to traders.
Some florists demand for Valentine's Day this time nearly doubled from last year, and a supply shortage meant prices were three to four times higher than normal.
They said a bouquet of 50 Da Lat roses usually costs VND180,000-190,000 (US$7.9-8.4), but has now increased to VND370,000-400,000 ($16.3-17.7).
The prices of many other fresh flowers also increased.
For instance, small yellow lily flowers cost VND85,000-100,000 for a bunch of five stems, VND25,000-35,000 up, and tiny flowers and leaves used to decorate flower baskets also increased by 25-30 per cent.
Flower farmers, worried about low demand, reduced their growing areas, resulting in short supply, while Valentine’s Day this year came just a day before full-moon day, pushing up demand for flowers, according to traders.
Ly Phu Quy, director of the Dam Sen flower market in District 11, said the supply of roses has decreased sharply compared to last year and their prices jumped to VND300,000-400,000 for a bouquet of 50 flowers since February 12.
On February 13 supply from Da Lat doubled, and so prices dropped to VND200,000-300,000, he said.
This year roses have not come from China and Ha Noi, he said.
Nguyen The Dong, head of retail and e-commerce at Dalat Hasfarm, said demand for roses for Valentine’s Day began to increase since the end of last week.
The number of customers ordering through Dalat Hasfarm's shops and e-commerce channel skyrocketed, and the company was unable to meet the demand, he said.
"Every month Dalat Hasfarm's farms supply 70,000 roses to the market. The company replenishes the supply with a small volume of imported flowers, but not by much because demand for roses in foreign markets has also surged like in Viet Nam."
Prices at the company’s stores increased by 30 per cent after Tet (Lunar New Year).
Owners of fresh fruit and flower shops on Nguyen Dinh Chieu Street (District 3) and Quang Trung Street (Go Vap District) said this year buyers placed orders for Valentine’s Day gifts a few days in advance and asked for delivery on February 14, were priced at up to VND2.5 million and included fresh flowers and chocolate and fruits.
Supermarkets and malls are offering discounts of 15-30 per cent on fashion garments, watches, cosmetics, perfumes, chocolates, and certain other items.
Jewellery companies like DOJI and Phu Nhuan Jewelry Joint Stock Company (PNJ) have introduced new collections and launched promotions.
PNJ offers discounts of up to 10 per cent when customers buy a pair of rings and has a promotion programme of VND22 billion.
Some restaurants and hotels are also offering discounts for pre-booking. — VNS