Huy Fong Sriracha prices are soaring as people become increasingly desperate to get their hands on a bottle one year into its chilli shortage. Now online sellers are appealing to consumers’ needs to get the highly coveted sauce… but at a steep price.
Listings have skyrocketed on the popular third-party site eBay, where the cost of a 793.79 g bottle of Huy Fong Sriracha is listed for up to $US60 for one bottle, and up to $US106 for two bottles. One listing even goes so far as to sell 15 of the 793.79 g bottles for a whopping $US955.55.
The upsurge in prices comes as Huy Fong enters its second year of a supply shortage stemming from extended droughts in its main farming areas in Mexico, New Mexico, and Irvine, California — where the company is based. In April of last year, Huy Fong sent a letter to its customers, saying the shortage had intensified and it would therefore be unable to produce any of its products including Chilli Garlic, Sambal Oelek, and Sriracha Hot Chilli Sauce. The company first informed consumers via email that it was experiencing a chilli pepper shortage in July 2020.
A Huy Fong spokesperson told CNN that it did resume some of its production this past fall, but said, “We continue to have a limited supply that continues to affect our production. At this time, we have no estimations of when supply will increase.”
With no end to the current chilli shortage in sight, the sriracha price-gouging may be here for some time, as eBay merchants draw consumers to purchase the sriracha sauce at astronomical prices.
While it may be difficult to find a bottle of sriracha on a Walmart shelf, it is still listed on its website for an unreasonable price of $US56.50. Business Insider reported sellers on Amazon have listed two bottles of the Huy Fong sriracha for $US87, but the supply has run out and it’s no longer available for purchase.
More reasonable merchants are selling the sauce on eBay for around $US20 per bottle. In retrospect, this money-making scheme may lead the rest of us to regret that we didn’t stock up on the crème de la crème of hot sauces sooner.
The brand has been a staple in the U.S. since David Tram opened the Huy Fong company in 1980 after he fled persecution following the Vietnam War. The sriracha sauce became an instant hit for consumers and became a necessary recipe staple for many households. The company spokesperson told CNN, “We are grateful for your continued patience and understanding during this unprecedented inventory shortage. We are currently working on trying to avoid future shortages.”