Prices of roses soar due to diminished supply

Prices of roses in Shanghai increased by almost three times ahead of Valentine's Day due to diminished supply caused by unusually cold weather which has affected domestic production, as well as a decline in import volume due to disruptions created by the pandemic.

According to sources from the Hongqiao Flower Market, the largest of its kind in the city, domestic roses currently cost between 10 and 15 yuan ($1.57 to $2.36) per stalk, while imported roses can cost up to 25 yuan each.

Vendors in the flower market said that cold temperatures in main productions areas such as southwestern China's Yunnan province have impacted the flower's growth and reduced the harvest by a third, resulting in a significant rise in price.

As for imported flowers, the COVID-19 pandemic abroad has greatly reduced the frequency of shipments and caused several flight cancellations, thus disrupting the flower supply for more than 10 days.

Vendors at the market said the price hikes have not resulted in fewer customers, though consumers are now less inclined to make big purchases.

While insiders have predicted a slight dip in the prices of roses after Valentine's Day, prices will not revert to a more reasonable range until after March 8, when a new shipment of roses is scheduled to hit the market, said a representative of the flower market.