Vegetable prices increase dramatically, experts warn new price levels are forming

(Dan Tri) - Vegetable prices in Ho Chi Minh City have increased by 40-50% due to a sharp decrease in supply. Experts say that this price increase is not just seasonal but a sign of a new price level forming.

Prices increase, market is deserted

According to Dan Tri reporter at Pham Van Bach market, An Hoi Tay ward (HCMC), the amount of vegetables coming to the market is gradually decreasing. Each stall only sells 2-3 kg of each type of vegetable, instead of 5-10 kg like 1 month ago. The prices of vegetables and fruits tend to increase every day and are currently 40-50% higher than the same period last year.

Specifically, cabbage is being sold at 35,000-40,000 VND/kg, green beans are up to 60,000 VND/kg, carrots are about 25,000 VND/kg, tomatoes are up to 60,000 VND/kg. Types such as squash and squash are all priced at 50,000 VND/kg. In particular, there are vegetables that have increased rapidly such as water spinach which has increased to 40,000-45,000 VND/kg, 2-3 times higher than before.

Many vegetable stalls at Pham Van Bach market, An Hoi Tay ward (HCMC) are deserted (Photo: Huan Tran).

In the Do Dac market area (An Khanh ward), vegetable prices are also increasing, especially the price of spices. Mr. Hung - a long-time trader - said that there are days when he does not dare to buy dill and basil to sell because the price is "dizzying".

On the morning of November 14, Mr. Hung sold dill for 120,000 VND/kg, double the normal price, and basil for 60,000 VND/kg, an increase of about 50%. Vegetables such as squash and squash also increased to 50,000 VND/kg, double the normal price.

The price of vegetables has increased not only in the markets but also in small grocery stores that sell food shipped from the provinces. Ms. To Van, owner of a vegetable shop in Binh Quoi Ward, said that the storms and floods in many places have reduced the availability of vegetables and increased their prices. Some items such as taro shoots, water spinach, and spring leaves have increased slightly by 10-20%.

Ms. Thao, the owner of another vegetable shop, said that this year there has been a lot of rain, so the fruits and vegetables are not as plentiful as usual. All the vegetable gardens have been damaged, so there are mainly only vegetables and fruits.

Vegetable prices increase (Photo: Huan Tran).

The rapid increase in the price of vegetables and fruits in recent times has significantly affected the spending of households. Ms. Truong Thi Men, a trader at Pham Van Bach market, said that before, she used to take nearly 5-8 kg of vegetables to sell every day, but now she only dares to take 2 kg and still cannot sell much, some days the sales are so bad that she has to take them home to eat.

“Every year at this time, the highest increase in vegetable prices is only 10-15%. Now it has increased dramatically by more than 50%. As a small trader, I am still surprised, let alone consumers. The market is so deserted that no one buys anything, so how can I sell?” Ms. Men added.

According to the Nguyen Tri Phuong Market Management Board, the complicated situation of storms and high tides has caused damage to production, leading to a sharp decrease in the amount of goods coming to the market and an increase in prices. Difficult transportation and increased input costs are also factors affecting prices.

At Thu Duc Agricultural Wholesale Market, the amount of vegetables coming to the market has also decreased significantly, averaging 2,431 tons, a decrease of 22 tons compared to before. Due to the low supply to the market, the prices of items have increased by 2,000-10,000 VND/kg.

The market will have a new price level.

According to business units, the sudden increase in vegetable prices in recent days in Ho Chi Minh City comes from the scarcity of supply. Many localities with large vegetable production such as the West and Lam Dong have been affected by continuous storms and floods, with some places suffering total losses, and the planting season has also been affected.

Meanwhile, about 60-70% of HCMC's vegetable supply is imported from neighboring localities. The weather situation not only affects production activities, but also causes fluctuations in the supply and demand market, affecting people's shopping and consumption activities. As a result, many consumers are shocked by the rapid price increase.

The simultaneous increase in prices of vegetables is not only a weather issue but also a warning that a new consumer price level is forming (Photo: Huan Tran).

Many retail experts believe that the current price increase is not a temporary shock, but rather a sign that a new price level is forming, not only in Ho Chi Minh City but also spreading nationwide.

Economist , Dr. Le Ba Chi Nhan, said that when vegetable prices increase sharply, the cost of living of people (especially low and middle income) immediately increases. This affects consumer spending, savings and increases pressure on the general price index.

Currently, input costs for production such as fertilizers, pesticides, and seeds have all increased by 20%. It is imperative that the selling price increases for producers to make a profit. This means that there will be a new price level, with an upward trend in the near future.

Source: https://dantri.com.vn/kinh-doanh/gia-rau-tang-soc-chuyen-gia-canh-bao-mat-bang-gia-moi-dang-hinh-thanh-20251114145100099.htm