Consumers paying more for festive goodies
Retailers and wholesalers cite higher costs of raw ingredients, supply issues
Published on Jan 11, 2014 10:11 AM
With less than three weeks to Chinese New Year, consumers are having to pay up to a third more than last year for certain festive goodies.
Reasons given by retailers and wholesalers include rising costs of raw ingredients and supply issues.
A Straits Times check with a dozen stores in Chinatown and Bugis shows prices of fish maw and dried mushrooms have gone up by as much as 30 per cent.
In Chinatown, seafood wholesaler Yau Shing is selling fish maw at between $7 and $80 per 100g, up 30 per cent from last year. At Teck Soon Medical Hall, dried mushrooms cost as much as $10 per 100g, against $8 last year.
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Demand driving up egg prices
CONSUMERS can expect to pay a little more for a tray of a dozen eggs in the lead-up to Chinese New Year.
Prices of eggs from Malaysia have risen by about 0.5 cent each due to higher demand from households, restaurants and bakeries, which are ramping up preparations for the coming festivities, say wholesalers.
The Agri-Food and Veterinary Authority (AVA) said 99 per cent of imported hen eggs come from Malaysia.
"The price increase happens every year during this period," said the chairman of Egg Import/Export Trade Association, Mr Tan Lau Huah, 68. Mr Tan, who is the owner of egg importer Chuan Seng Huat Egg Store, said prices started increasing on Monday and may rise further by one or two cents if demand continues to rise.
In 2012, Singapore produced about 25 per cent of its eggs, said AVA.
Chew's Group, which produces eggs locally, said its prices remain stable. Meanwhile, Seng Choon Farm said that "in general, the prices of eggs in the market have gone up over the years".
This was attributed to increased manpower and electricity costs.