Gold prices drop ahead of Lunar New Year, traders hope to sell out their stock

Due to increased supply and tough economic conditions, goldfish are being sold at a lower price this year compared to previous years.


Tuy Loc commune, Cam district, Phu Tho province is a traditional village that has been raising gold carp for many generations. Mr. Luan’s family has been specializing in supplying gold carp for the local market and Hanoi for 40 years.

Mr. Nguyen Huy Luan – a long-time gold carp breeder, said that this year gold carp is much cheaper than last year: “Last year, despite still being affected by the Covid-19 pandemic, the selling price was about 100,000 VND/kg, this year it is 20,000 VND cheaper. Meanwhile, the fish is beautiful, shiny gold and in good condition,” Mr. Luan calculated that each kg of fish will bring a profit of 40,000 VND after deducting the cost of labor and food.

Mr. Nguyen Huy Luan is sharing about the gold carp breeding profession

The breeder added that the best-looking fish weigh about 30 fish/kg, they are all healthy and shiny gold. Thuy Tram fish-raising village has a reputation because the fish are fed with corn and ground rice, absolutely no industrial bran is used, so the fish are very resilient.

Mr. Luan further explained that the fish breed usually gives birth throughout the year, but the breeders only keep the fish born in June in order to supply the market at the end of the year.

To serve traders coming from all over to buy, before the Kitchen Gods’ Day, Mr. Cong, Mr. Tao, Mr. Luan’s family picks fish and temporarily keeps them in clean water to allow the fish to get used to the environment.

Mr. Luan’s family is harvesting gold carp for supply to the market

According to records, Yen So market in Hoang Mai district, Hanoi, is the most bustling place in the area before the Kitchen Gods’ Day, but the selling price of gold carp this year is not high.

Ms. Nguyen Thi May, a long-time trader, said at Yen So market that this year the fish is more beautiful than in previous years but the supply exceeds demand, so the price is low.

“I import fish from Nam Dinh, Thai Binh. In previous years, sometimes I had to sell at 250,000-300,000 VND/kg but this year it’s only 80,000-90,000 VND/kg for the beautiful ones,” Ms. May shared.

Yen So market is the largest supplier of gold carp in Hanoi

Some sellers also predicted that this year there will be a decrease in the number of people going to the market on Kitchen Gods’ Day Friday as many people still have to work, but they hope that the supply of imported carp will be sold out.

The selling price of carp on Kitchen Gods’ Day is cheaper than last year

30 fish/kg will be the most beautiful ones

The Kitchen Gods’ worship ceremony is often held before 12 noon on the 23rd day of the Lunar December month (can be done at noon, the evening of the 22nd day or the morning of the 23rd day), because traditionally after 12 noon the Kitchen Gods come up to the heaven and will not receive offerings.

According to legend, the gold carp is the only means that can take the Kitchen Gods back to heaven. Therefore, on this day, all families offer gold carp. Some families may buy paper gold carp, but most families usually buy 3 live gold carp and put them in a bowl of water next to the food tray. After the ceremony, they release the fish into the river, implying that the fish will turn into dragons, cross the gates, and become the means for the Kitchen Gods to ride back to heaven.

In addition, in the consciousness of Vietnamese people, “fish crossing the gates” or “gold carp turning into dragons” also carries the meaning of flourishing, symbolizing the spirit of overcoming difficulties, perseverance, determination to conquer knowledge for success, and representing noble hidden personalities or aiming for good results.