The Mekong Delta’s renowned Hoa Loc mangoes are currently being sold at a retail price of VND200,000 (US$7.70) per kilogram, reflecting a surge of 33% compared to the previous year, primarily due to a supply shortage.
Several retail stores in Ho Chi Minh City (HCMC) have reported difficulties in procuring sufficient quantities of this fruit, which is a traditional component of the Tet (Lunar New Year) fruit tray. As the New Year approaches, larger and more attractive fruits are being sold out rapidly, despite their steep prices.
Nguyen Thi Loan, a fruit store owner located in the An Hoi Dong Ward of the city, revealed that her daily sales have dropped to approximately 150 kilograms compared to last year’s 200 kilograms during the same period. The availability of other mango varieties has also decreased, subsequently pushing their prices upwards.
Unfavorable weather conditions have hampered timely fruit-bearing in many large orchards, contributing to the supply-demand imbalance. Nguyen Thi Hong, a mango grower with over a hectare of land in the Mekong Delta province of Dong Thap, claimed that Hoa Loc yields have declined by 20-30% compared to the previous year.
This reduction in output has inflated both farm-gate and wholesale prices. For instance, at the Thu Duc agricultural wholesale market in HCMC, mango prices have skyrocketed by over 60% since the last Tet, reaching VND130,000 per kilogram.
A manager at the market also indicated that certain businesses are prioritizing their export orders, thereby intensifying the local supply crunch.
Why have the retail prices of Hoa Loc mangoes increased significantly?
The prices have escalated due to a supply shortage, which has resulted from unfavorable weather conditions and lower yields.
What other factors are contributing to the rise in the prices of these mangoes?
In addition to the supply-demand imbalance, some businesses are prioritizing their export orders over local supply, leading to a further increase in prices.
How has this affected the traditional Tet fruit tray?
The scarcity of Hoa Loc mangoes and their high prices have led to a reduction in sales, impacting the traditional Tet fruit tray which typically includes these mangoes.
