The Lunar New Year, or Tet, in Vietnam is a time of vibrant celebration, family gatherings, and the symbolic presence of the kumquat tree, a traditional harbinger of luck and prosperity. This year, however, the festive atmosphere was tinged with anxiety and financial strain for both consumers and farmers, as extreme weather conditions severely impacted the kumquat harvest and sent prices fluctuating wildly. Typhoon Noru, which ravaged northern Vietnam in September, flooded vast swathes of farmland, decimating crops at a crucial juncture in the kumquat growing season. Coupled with unusually high temperatures and a persistent drought, these adverse conditions resulted in a significantly reduced yield and a diminished quality of the fruit, leaving many farmers with substantial losses and consumers facing inflated prices.
The scarcity of kumquats initially drove wholesale prices up, prompting concerns among consumers about affordability. This initial surge was followed by a dramatic drop in prices as demand faltered, driven by consumer unease about the economic climate and the perceived aesthetic inferiority of this year’s smaller, less vibrant kumquats. Farmers, who had invested heavily in their crops, were left with unsold inventory, facing significant financial hardship. The story of Nguyen Thi Hoa, a kumquat grower near Hanoi, encapsulates the widespread despair among farmers, as she witnessed nearly half of her crop succumb to the floodwaters, and the remaining trees fetching prices far below the usual market value.
The significance of the kumquat tree in Tet celebrations cannot be overstated. It holds a place of honor in homes, businesses, and public spaces, symbolizing good fortune and prosperity for the coming year. This year, however, the familiar sight of lush, fruit-laden kumquat trees was replaced by smaller, less vibrant specimens, reflecting the difficult growing season. The impact of the weather extended beyond kumquats, affecting other traditional Tet staples such as peach blossoms and bananas, further adding to the financial burden on families preparing for the holiday.
Consumers, faced with the inflated prices and diminished quality of traditional ornamentals, were forced to make difficult choices. Some opted for smaller kumquats, while others switched to more affordable alternatives like orchids or persimmon branches. The story of Nguyen Thi Nguyet, a government employee in Hanoi, illustrates this dilemma. Unable to afford the inflated price of a kumquat tree, she settled for a less expensive bouquet of orchids imported from China, a testament to the economic pressures faced by many Vietnamese families this Tet.
The escalating cost of even basic Tet essentials like bananas underscored the widespread economic anxiety. A staple offering on ancestral altars, bananas are typically the most affordable item on the Tet shopping list. This year, however, their price soared, surpassing even that of meat, a shocking development for many. Tran Van Huy, a banana vendor, held firm on his inflated prices, forcing consumers like Nguyen Thi Loan, a retired teacher, to drastically reduce their purchases, highlighting the difficult decisions families had to make to accommodate the inflated costs.
The volatile market for ornamental plants and essential Tet items reflects a broader economic unease in Vietnam. While the country experienced significant economic growth in 2023, the lingering effects of the pandemic and the devastation wrought by natural disasters have left many families struggling financially. The sensitivity to price fluctuations in the kumquat market underscores this vulnerability, as consumers grapple with the rising cost of living and the desire to maintain cherished traditions. Farmers, meanwhile, bear the brunt of the economic and environmental challenges, facing substantial losses and an uncertain future.
