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Author Topic: Price of Chinese New Year delicacies up from last year  (Read 3454 times)
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eUoNyM~ ๑۩۞۩๑
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« on: February 05, 2016, 11:19:01 AM »

By Wong Pei Ting, TODAY
Posted 05 Feb 2016 07:57 Updated 05 Feb 2016 08:00

SINGAPORE: Those stocking up on popular Chinese New Year food items such as bak kwa and fish are feeling an extra pinch in their wallets this year, compared with the same festive period last year.

At the market, the price for the Chinese silver pomfret has gone up from S$80 per kg — a common quoting price this time last year — to breach the S$100 mark.

Some fish vendors even expect the price to go as high as S$150 per kg within the next two days as Chinese New Year approaches.

HIGHER RENT, MANPOWER COSTS

Mr Kenneth Lim, chairman of Punggol Fish Merchants’ Association, attributed the sharp rise in pomfret prices to the strong competition for the popular fish among suppliers from Taiwan, China, Hong Kong and Singapore, with them overbidding each other.

For bak kwa, prices have increased between 4 and 20 per cent within the last two weeks, according to checks by TODAY.

Lim Chee Guan, which has traditionally attracted snaking queues ahead of Chinese New Year, increased its signature barbecue sliced pork price by 12 per cent, from S$50 to S$56. During the festive period last year, it upped the price by about 8 per cent.

At Kim Hwa Guan, the increase in its sliced pork price was the same as last year, from S$48 to S$58.

However, to cushion the rise in its manpower and rental costs, the company raised the price of its products starting last Thursday (Jan 28), instead of just three days before Chinese New Year like in previous years, said Mr Ng Chiam Heng, who is now in charge of the family business.

Bee Cheng Hiang increased its barbecue pork price by another S$2 to S$54, on top of last year’s S$2 price increase, as “materials (including its pork, which is imported from Spain) are expensive”, said Madam Tan Chiew Lian, one of the directors in the family business.

Some businesses, however, have chosen to absorb the rising costs.

For example, Mr Yip Wai Keong, owner of a traditional sausage stall, Chinatown Guangzhou, at the Chinatown festive bazaar, has not increased the price of his sausages even though his supplier has increased its price by S$1 per kg.

Ming Fa Fishball’s manager, Mr Jerome Lim, said his company is also not planning to raise the prices of its goods for now, even though manpower, rental, and fish costs have gone up by 20 per cent collectively.

CASE 'STRONGLY' ENCOURAGES RETAILERS NOT TO PROFITEER

When asked if the price increases were justified, the Consumers Association of Singapore's executive director, Mr Seah Seng Choon, said CASE “strongly” encouraged retailers not to increase food prices excessively and profiteer from the festive period.

However, CASE recognises that prices will naturally go up according to the market forces of supply and demand, he added.

In face of the hikes, “consumers should take note to shop around and look for food that is within their budget”, Mr Seah said.

Read the original TODAY report here.

-TODAY/mz

http://www.channelnewsasia.com/news/singapore/price-of-chinese-new-year/2490058.html
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eUoNyM~ ๑۩۞۩๑
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« Reply #1 on: February 05, 2016, 11:19:42 AM »

see la Angry! your bak kwa price went up so high n no gib me discount then how to buy? 
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« Reply #2 on: February 06, 2016, 01:03:27 PM »

 
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eUoNyM~ ๑۩۞۩๑
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« Reply #3 on: February 09, 2016, 11:00:32 AM »

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