As Tet approaches, green bananas - a must-have for traditional fruit offerings - have reached astonishing prices of 700,000–1,000,000 VND ($30–40) per bunch in Hanoi's markets. Despite the hefty price, customers are still scrambling to buy them for their Tet celebrations.

Skyrocketing prices at Tet markets

On the afternoon of January 26 (27th day of the lunar month), at Dai Tu Market in Hoang Mai District, Hanoi, Phung Thi Thao stopped by a fruit stall to buy a bunch of green bananas for her family’s mâm ngũ quả (five-fruit tray).

When she inquired about the prices, the vendor replied, “The smaller bunches with even numbers of bananas cost between 150,000 and 250,000 VND ($6–10). But the ‘VIP’ bunches with an odd number of bananas range from 450,000 to 700,000 VND ($19–30). A 29-banana bunch priced at 1,000,000 VND ($40) has already been reserved.”

After some consideration, Thao purchased a 25-banana bunch for 700,000 VND ($30). “Tet only comes once a year, so I want to prepare a beautiful fruit tray to honor my ancestors,” she explained. In addition to the bananas, she also bought apples, coconuts, dragon fruit, and pomelos for the offering.

According to Vu Thi Lam, a banana vendor at Dai Tu Market, this year’s prices for green bananas have surged to record highs.

“Compared to last year, prices have tripled, and they’ve increased seven to ten times compared to regular days,” Lam said.

Despite the high cost, odd-numbered bunches with 17 to 31 bananas remain extremely popular. “Every time we cut a new bunch, it gets sold immediately,” she added.

The bananas are sourced directly from gardens and arrive fresh each day. However, prices fluctuate daily, as farmers only reserve the bananas for vendors without locking in advance rates. This unpredictability has further driven up costs in the final days before Tet.

Northern and southern bananas compete

At Van Chuong Market in Dong Da District, green banana prices are similarly steep. Standard bunches range from 350,000 to 500,000 VND ($15–21), while the most desirable odd-numbered bunches can cost as much as 1,000,000 VND ($40), leaving many shoppers stunned.

Minh Ngoc, a resident of Dong Da District, shared her frustration: “I’ve been to several markets, but I still can’t find a reasonably priced bunch of odd-numbered green bananas.”

The demand has also extended to bananas imported from southern Vietnam. Nguyen Thi Thanh, a fruit wholesaler in Cau Giay District, reported that green bananas transported from the south have been selling out quickly despite their rising prices.

Initially, southern bananas were priced at 40,000 VND ($1.70) per kilogram, with a bunch weighing 3–4 kilograms costing 120,000–160,000 VND ($5–7). Wholesale cartons containing four bunches were priced at 400,000 VND ($17).

“At first, I was worried they wouldn’t sell because some people were skeptical about using bananas shipped in refrigerated containers for their Tet offerings,” Thanh said. “But to my surprise, customers rushed to place orders.”

Over the past two days, prices for southern bananas have also doubled. Individual bunches now cost 80,000 VND ($3.40) per kilogram, while wholesale cartons are priced at 550,000 VND ($23). Thanh has limited her sales to warehouse pickups, as she cannot accommodate delivery or reservation requests during the hectic holiday season.

On the market, green banana prices show no signs of cooling down. Many shoppers, shocked by the exorbitant cost, have reluctantly decided to prepare their fruit trays without the traditional bananas this year.

Tam An