Price slashed to the floor, no buyers, merchants had to cut down and burn peach trees
On February 9 (ie the 30th of Tet), on many streets in Hanoi such as Pham Hung, To Huu, Hoang Quoc Viet..., vendors heavily discounted peach and kumquat trees for Tet with the hope of "pushing" their goods to quickly clean up for Tet. Many people destroyed their goods to avoid being forced to lower prices.
Many wild peach branches and black peach branches previously cost up to several million VND, but on the 30th of Tet, they were discounted to 200,000 - 400,000 VND/branch, but very few people bought them.
Many traders had to cut down unsold peach branches.
Mr. Thanh, a peach tree seller on Hoang Quoc Viet Street (Cau Giay District, Hanoi) said: "This year I imported more than 40 peach trees, starting to sell them from mid-December, but until today there are still nearly 20 trees left."
"I spent 60 million VND to import peach trees to sell for Tet, and now I'm losing nearly 40 million. Each peach tree I imported cost more than 600,000 VND, but because of slow sales, I lowered the price to 300,000 VND since December 23. However, people paid too low, and no one asked to buy much. Because we are traders, we only import to sell, we cannot bring the trees back to the garden to nurture and wait for next year to sell again, so we had to accept cutting down all the trees," said Mr. Thanh.
Many people go "pick up" cut peach branches to bring home and plant.
Peach trees were piled up to be burned on the afternoon of the 30th of Tet.
The whole street was in disarray, littered with cut peach branches.
Kumquat pots are sold at the same price of 100,000 - 200,000 VND/tree.
Many vendors still hope to sell a few more peach blossoms as the 30th of Tet is gradually passing.
Instead of cutting them down, some people leave unsold peach branches as gifts for those who cannot afford to buy peach blossoms for Tet.
Small traders clean up and load goods onto cars to go home for Tet.
Phalaenopsis orchids also fell sharply in price.
Phalaenopsis orchids are sold for only 50,000 VND/plant.
This is also the time when many people take advantage of shopping for ornamental plants, with prices only 1/3 of the price at the beginning of the season.
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