35 million VND for a ham for Tet season

According to a survey, many high-end online and offline supermarkets have started to launch imported food products to serve the Lunar New Year. Some units said that from quality candies and nuts to expensive items such as Australian abalone, Alaska shrimp, Iberico ham... are being ordered by many customers.

For example, the cheapest whole salted Iberico ham from Spain is currently around 5.5 million VND per leg, weighing 5.5 kg and salted for 24 months. The most expensive item is even 35 million VND per 10 kg leg and salted for 36 months or more.

However, according to the representative of Die Traumerei store system (Hanoi), the priceboth “no problem” byMany customers have come to buy the whole thigh to eat gradually until Tet.

“Deraza's Iberico hams are selling very well.This type is packaged beautifully and is convenient to carry, so it is chosen by many people. Its origin is clear, strictly tested, and the importer is responsible for each product, so it is easy for us to sell," said a representative of the system.

Although it is a bestseller and considered a “trendy” choice, there are not many places that sell this product. In addition to the system in Hanoi, in Ho Chi Minh City there is another unit called Arigato that provides the same online store. According to the business community, the reason is the relatively low supply. While only two countries, Spain and Portugal, produce it, only Spain has significant output and exports.

“To get a standard Iberico ham, you have to order it a month in advance and it costs about tens of millions of VND for each ham weighing about 7 to 8 kg. Currently in Vietnam, there are only a few units that are allowed to import and officially distribute this product,” said Mr. Dinh Quang, a representative of an online store.

According to Ms. Dao Thi Ha Vy - CEO of Gourmetfood, this unit imports nearly 1,000 Iberico hams each year. However, due to scarcity, this Tet season, the company will only import if customers order in advance. Meanwhile, other high-end food lines have been prepared with a relatively good supply to meet demand.

“We forecast that this year purchasing power will increase by about 8-12% compared to last year. However, prices will be relatively stable, without fluctuations. Because the Vietnamese economy improved in 2017, the trend of giving Tet gifts will also be more 'generous'. It is likely that businesses and consumers will spend more to have beautiful, unique gifts, high value and in line with the green - clean - safe consumption trend,” Ms. Vy predicted.

Besides salted pork, another trend that is currently attracting a lot of attention from the business community is products related to Japanese food and drinks.Distributors explain that Japanese culture is a trend among Vietnamese consumers, with many Japanese or Japanese-style restaurants springing up like mushrooms in Ho Chi Minh City, Hanoi and Da Nang.

Thanks to that, Japanese products are also a trend for Tet gifts this year. For example, cherry blossom-shaped sake boxes with low alcohol content are very popular as gifts. On average, a box of a 300ml bottle of sake with a free glass costs about 550,000 VND. A box of 2 720ml bottles with a free bottle and glass costs about 1.5 million VND.

Mr. Dinh Quang added that the trend of giving Tet gifts in 2018 is elegant gift sets, not too sophisticated but luxurious. Moreover, customers are fond of high usefulness, regardless of whether the goods are imported or domestic.

“We are very optimistic about the development prospects of Vietnam's economy as well as the consumer goods market with a population of approximately 100 million people, especially the outstanding growth of the northern market,” said an importer.