Orchid mutation heats up again

Old trick to "herd chickens"

Recently, some groups on Facebook have posted and shared some images of buying and selling mutated orchids at high prices, up to tens or hundreds of millions of VND/cm. However, when commenting on the images on social networks, many people frankly expressed their opinion that it was just a "canvas" trick that some gardeners used to "herd chickens" for the last time.

Mr. Quyet Duc Nam - a resident of Hoang Xa commune, Thanh Thuy district ( Phu Tho ) shared that during the orchid fever in previous years, there were many people here who invested in buying and selling orchids. After that, some people "won", but there were also many people who lost money and fell into debt.

"Previously, I had some friends who mortgaged their house's red book to invest in mutant orchids, but then they collapsed and couldn't sell them at a loss, resulting in debt. Therefore, when there was information about buying and selling mutant orchids at high prices recently, I felt worried that the negative consequences mentioned above would recur" - Mr. Nam shared.

According to Mr. Le Huu Hoang - a resident of Van Xuan commune, Tam Nong district, Mr. Hoang is one of the few people who "hit the jackpot" on mutant orchids because they invested at the beginning of the "fever" and stopped at the right time. However, in the face of recent information about orchid transactions worth tens and hundreds of millions of VND/cm, Mr. Hoang affirmed that he would stay out of the game.

"After the sudden orchid fever around 2021, witnessing many people losing money and going into debt, I realized how lucky I was to stop at the right time. Now, playing with mutated orchids is to satisfy my passion, to trade at the right market price, but if the price is inflated like in the past, it will only be a minority and no one will believe it" - Mr. Hoang commented.

All are under 10 million VND/cm

Speaking to Lao Dong Newspaper reporter, Mr. Tran Duy Quy - Chairman of Vietnam Orchid Production and Trading Association said that according to the survey, all types of mutated orchids on the market currently have prices not exceeding 10 million VND/cm. The Association also issued a directive requiring gardeners not to inflate the prices of mutated orchids.

Mr. Tran Duy Quy - Chairman of Vietnam Orchid Trading and Business Association. Photo: Minh Anh. — Mr. Tran Duy Quy - Chairman of Vietnam Orchid Production and Trading Association. Photo: Minh Anh.

According to Mr. Quy, mutant orchids in particular and Vietnamese orchids in general have many beautiful and rare varieties, the potential for developing orchid growing is huge. However, for that development to be sustainable, it is necessary to prevent price inflation and counterfeiting and fraud when buying and selling this type of flower.

"We also warn orchid buyers to research carefully, and buy flower pots with clear origins and commitments to consumers. It can be seen that orchid players are screening themselves, because fraud and "herding" will not have any results, people only pay once" - Mr. Quy shared.

Not only that, the government and relevant agencies are also trying to propagate and warn people to be vigilant against information and images of orchid transactions with signs of price inflation on social networks recently.

Warning document of Thanh Thuy District People's Committee. Photo: To Cong.

Most recently, at the end of February 2024, the People's Committee of Thanh Thuy district, Phu Tho province issued Document No. 220 to departments, units under the district; District Police; People's Committees of communes and towns on vigilance against the phenomenon of sudden orchid price inflation in the market.

The document clearly states that, in order to promptly prevent the negative impacts of the above phenomenon, the District People's Committee requests departments and units; People's Committees of communes and towns to strengthen propaganda, dissemination and advise people to be vigilant against the above phenomenon, not to let bad elements take advantage of the influence of social networks to lure, entice, defraud, and appropriate people's money and property as has happened before; At the same time, assign the District Police to strengthen their grasp of the activities of associations and groups on social networks, especially accounts that post untrue news; promptly prevent and handle violations according to the provisions of law; ensure stability of security and order in the area.

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