Preparations in New Year's goods market in Taipei have already started for the upcoming celebration. However, due to the tight supply and the huge demand, consumers are likely to pay more for popular festive products such as scallops and sea cucumbers.

Every year before Chinese New Years arrival, many would visit the Taipei DiHua Street to shop for beef jerky, dried squid and candies.

Most of the shops on the street offer free tasting and samples.

With less than one month to go until Chinese New Year, all merchants are ready for the peak season of the year.

However, those who are going to purchase seafood products need to prepared to pay about 20% more when compared to last years prices.

Dried scallops now cost NT$1,600 per kilogram from NT$1,200, while the dried shark fins are also more expansive.

The price increase had many housewives thinking about alternatives to save more money