Premium lychee prices jump 5-fold on low supply due to bad weather

By Thi Ha   June 30, 2024 | 06:49 pm PT
Premium lychee prices jump 5-fold on low supply due to bad weather
Lychee sold in Hanoi on June 26, 2024. Photo by Nguyen Son Ngoc
Prices of the premium Luc Ngan lychee have jumped five-fold from a year ago due to low supply but many people are willing to pay them.

Lan Anh in HCMC could not find Luc Ngan lychee anywhere in her neighborhood, and had to order online at VND200,000 ($7.86) per kilogram, a never before seen price. "Prices have never been this high. It is extremely difficult to find a seller."

Hoa in Hanoi has to order directly from Luc Ngan in the northern province of Bac Giang, where the variety is mostly grown. She ordered 50 kilograms at VND140,000 each.

Nguyen Son Ngoc, a vendor in Hanoi, recently sold 50 kg but her customers wanted more. "We sold only half the quantity we did last year due to low supply."

Most lychee farms in northern provinces like Hung Yen, Bac Giang and Hai Duong have completed their harvest.

At some places in Luc Ngan, farmers sold a kilogram at VND140,000, five times the price they got last year.

Traders said there has been a decline in supply in both Vietnam and China this year due to unfavorable weather.

Bac Giang, the "lychee capital" of Vietnam, has sold 85,700 tons so far this year, and officials estimate the figure will reach 100,000 at most for the full year or just half of the 215,000 tons it sold last year.

Bac Giang’s exports to China, its main export market, plunged 75% year-on-year in the first six months to 24,500 tons. Its other markets include the E.U., Japan and the U.S.

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