Prices for large squid and shrimp have soared significantly in the weeks leading up to Tet 2026, with some items seeing increases of over 30% compared to last month or last year. Despite these higher costs, consumer demand remains robust, particularly for premium items intended for gifting and year-end celebrations. This surge reflects a broader trend of escalating prices across various fresh food categories as the festive season approaches.

Mai Anh, a resident of Xuan Hoa ward in TP HCM, expressed surprise at the sudden jump in prices for large squid and shrimp within just a few days. She noted that last week, broadleaf squid (4-5 pieces per kilogram) cost about 350,000 dong, but has now risen to 500,000 dong per kilogram. Vendors are requiring customers to place deposits to secure orders, citing scarce supply and daily price fluctuations.

Observations at wholesale markets and seafood stalls confirm a widespread increase in broadleaf squid prices. Special large broadleaf squid, weighing one kilogram or more per piece, now sells for 600,000-650,000 dong per kilogram. This represents an increase of about 33% compared to the same period last year and approximately 40% higher than a month ago. Even smaller squid (over 10 pieces per kilogram) is selling for around 400,000 dong, while large tube squid has reached half a million dong.

Broadleaf squid at a market in Nha Trang, Khanh Hoa. Photo: An Cang

Similarly, large sea shrimp have also seen a sharp price increase. Live tiger prawns, 5 pieces per kilogram, are currently selling for around 1.5 million dong, an increase of 500,000 dong from previous prices. Sea whiteleg shrimp, 10 pieces per kilogram, range from 700,000-800,000 dong, up over 30% compared to a month ago.

According to Ha, a dealer specializing in premium sea shrimp and squid in the Xom Moi market area of An Hoi Dong ward, prices for most fresh and dried seafood items have risen by over 30% in just one month. "Many customers place orders a week in advance but haven't received their goods because large-sized shrimp and squid are rare," she stated. "Fresh catches are immediately frozen the same day, yielding only a few kilograms, which drives up prices."

An, owner of An Cang wholesale in Khanh Hoa, attributes this year's sharper increase in shrimp and squid prices to a significant drop in supply. The low volume of sea shrimp and squid caught in the days leading up to Tet makes it difficult to meet market demand. Escalating fuel, labor, and exploitation costs further push prices upward, especially as customers continue to place numerous orders for premium, large-sized items for gifting and year-end celebrations.

Large sea tiger prawns at a seafood store in Nha Trang, Khanh Hoa. Photo: An Cang

Commenting on this year's Tet market, Tran Van Truong, CEO of the Hai San Hoang Gia chain, stated that while seafood catch volume has decreased, rising transportation and labor costs make it unlikely for premium squid and shrimp prices to drop in the short term, especially as demand for gifting and year-end parties peaks. "If supply does not improve, prices are likely to remain high right up until Tet," he predicted.

The upward trend has also extended to other fresh food categories. Pork, beef, and chicken prices have risen by an additional 5-10% compared to the same period last year. Today, some pork varieties cost 210,000-250,000 dong per kilogram; premium beef has increased by about 20,000 dong to 350,000 dong, while small core beef shank is 700,000 dong. Free-range chicken prices also saw an increase of 10,000-20,000 dong, fluctuating between 140,000-160,000 dong per kilogram.

According to small traders, food purchasing power has increased by about 20-30% compared to normal days since the 23rd day of the twelfth lunar month, and slightly higher than the same period last year. Even though consumers tend to tighten their spending, items for eating, entertaining guests, and gifting during Tet are still prioritized, keeping overall food prices, especially for premium seafood, at high levels.

Thi Ha