A flower shop in HCM City. Rose prices have surged in recent days, especially on Valentine’s Day due to high demand and limited supply. — Photo soha.vn

HCM CITY — Rose prices in HCM City have surged in recent days, especially on Valentine’s Day (February 14) due to high demand and limited supply, according to traders.

Some florists demand for Valentine's Day this time nearly doubled from last year, and a supply shortage meant prices were three to four times higher than normal.

They said a bouquet of 50 Đà Lạt roses usually costs VNĐ180,000-190,000 (US$7.9-8.4), but has now increased to VNĐ370,000-400,000 ($16.3-17.7).

The prices of many other fresh flowers also increased.

For instance, small yellow lily flowers cost VNĐ85,000-100,000 for a bunch of five stems, VNĐ25,000-35,000 up, and tiny flowers and leaves used to decorate flower baskets also increased by 25-30 per cent.

Flower farmers, worried about low demand, reduced their growing areas, resulting in short supply, while Valentine’s Day this year came just a day before full-moon day, pushing up demand for flowers, according to traders.

Lý Phú Quý, director of the Đầm Sen flower market in District 11, said the supply of roses has decreased sharply compared to last year and their prices jumped to VNĐ300,000-400,000 for a bouquet of 50 flowers since February 12.

On February 13 supply from Đà Lạt doubled, and so prices dropped to VNĐ200,000-300,000, he said.

This year roses have not come from China and Hà Nội, he said.

Nguyễn Thế Đông, head of retail and e-commerce at Dalat Hasfarm, said demand for roses for Valentine’s Day began to increase since the end of last week.

The number of customers ordering through Dalat Hasfarm's shops and e-commerce channel skyrocketed, and the company was unable to meet the demand, he said.

"Every month Dalat Hasfarm's farms supply 70,000 roses to the market. The company replenishes the supply with a small volume of imported flowers, but not by much because demand for roses in foreign markets has also surged like in Việt Nam."

Prices at the company’s stores increased by 30 per cent after Tết (Lunar New Year).

Owners of fresh fruit and flower shops on Nguyễn Đình Chiểu Street (District 3) and Quang Trung Street (Gò Vấp District) said this year buyers placed orders for Valentine’s Day gifts a few days in advance and asked for delivery on February 14, were priced at up to VNĐ2.5 million and included fresh flowers and chocolate and fruits.

Supermarkets and malls are offering discounts of 15-30 per cent on fashion garments, watches, cosmetics, perfumes, chocolates, and certain other items.

Jewellery companies like DOJI and Phú Nhuận Jewelry Joint Stock Company (PNJ) have introduced new collections and launched promotions.

PNJ offers discounts of up to 10 per cent when customers buy a pair of rings and has a promotion programme of VNĐ22 billion.

Some restaurants and hotels are also offering discounts for pre-booking. — VNS