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Amid a global Sriracha shortage due to a poor chili harvest, Huy Fong Foods struggles to meet demand. This scarcity has ignited a wild black market, with online resellers doubling and even tripling prices, turning the popular hot sauce into a pricey commodity.
The situation led to the Sriracha sauce shortage, and it seems that it will take more time before the normal supply is restored. Now, with the scarcity of this hot sauce, it was reported that many online resellers were forced to sell spicy condiments at high prices.
Then again, there were also some who have taken advantage of the situation and have been selling Sriracha for more than double the prices. While it was mentioned that a bottle of the Sriracha sauce is being sold for $70, CNN Business reported that there are sellers who put the unbelievably $120 price tag on the sauce.
Apparently, the prolonged shortage of the sauce is making the black market go wild. The Sriracha sauce is also available on eBay, and only people with money to spend will be able to afford it since it is very expensive.
Some shoppers said that sellers on eBay are offering the 17-ounce bottle for $39.98 while the 28-ounce bottle is almost $70 now. The rates do not include the shipping fee yet, so the actual payments are on the overpriced level already.
Sellers on Amazon charge even higher as a 2-pack Sriracha sauce is being sold for $124. Fox Business mentioned that a bulk-size pack with 50 packets of the hot sauce is priced at $23.94. Prior to the shortage of the red sauce, the typical 17-ounce only cost about $5.
“Although some production did resume this past fall season, we continue to have a limited supply that continues to affect our production,” the spokesperson of Hyu Fong Foods told CNN Business. “At this time, we have no estimations of when supply will increase.”
The company added that it is doing its best to get back to normal production. “We are grateful for your continued patience and understanding during this unprecedented inventory shortage. We are currently working on trying to avoid future shortages,” the company explained.
Photo by: Samantha Sophia/Unsplash
