Prices of popular fish soar ahead of Chinese New Year

Prices of some popular fish, such as Chinese pomfret and red grouper, have spiked ahead of Chinese New Year, with some sellers at wet markets doubling their prices.

The Straits Times visited six wet markets yesterday and found Chinese pomfret going for as much as $90 to $100 a kg, up from $40 to $50 a kg last November. Red grouper cost up to $75 a kg, up from $30 to $40 a kg in November.

While the fish merchants' association said the price hike is normal during the Chinese New Year period, stallholders said the increase is exacerbated by floods in Malaysia last month. Vendors added that suppliers in China have also been snatching up stocks.

Singapore's fish supplies come mainly from Malaysia, Indonesia and Vietnam.

Fishmonger Michael Yak, 47, who runs a stall in Tiong Bahru Market, said: "The price increase can't be helped. The floods in Malaysia last month affected supply and quality. Most of the stocks were also bought up by China (suppliers)."

The other markets ST visited were Clementi 448 Market and Food Centre, Toa Payoh West Market and Food Centre, Ghim Moh Road Market and Food Centre, Tekka Centre and Chinatown Complex.

A 70-year-old stallholder at Tekka Centre, who wanted to be known only as Mrs Yang, raised the price of Chinese pomfret from $30 a kg last month to the current $70 a kg. She is selling red grouper at $45 a kg, up from $30 before.

"As supply is low, customers must order these fish in advance," she said.

Mr Ang Jwee Herng, president of the Singapore Fish Merchants' General Association, said the two types of fish are typically about 50 per cent more expensive in the lead-up to Chinese New Year due to high demand. "It isn't any different from previous years," he added.

Madam Irene Lim, 64, a legal secretary who was shopping at Ghim Moh, said: "The price increase is acceptable to me especially when businesses at markets have been affected (by the pandemic)."

The price of prawns hovered at around $20 a kg. A market vendor in Toa Payoh West was selling prawns at $25 a kg, up from $20 a kg last month, while a vendor in Clementi was selling them at $20 a kg, up from $15 a kg last month.

Vegetable prices continued to creep up.

Mr Jerry Tan, vice-secretary of the Singapore Fruits and Vegetables Importers and Exporters Association, said the lack of workers at Malaysian farms meant that vegetable prices will fluctuate.

He said: "Some importers have turned to Thailand for supplies."

About 64 per cent of the 80,434 tonnes of leafy vegetables Singapore imported in 2020 came from Malaysia, with the rest coming mainly from China and Thailand.

Mr Mic Ng, 42, who runs a vegetable stall at Clementi, raised vegetable prices by between 50 cents and $3 a kg. He said: "It can't be helped - stocks are still affected by the aftermath of the floods in Malaysia and manpower issues."

Madam Tan Ah Sim, 63, who runs a vegetable stall in Ghim Moh with her husband, increased the price of tang oh (garland chrysanthemum) from $8 a kg last week to the current $10.

"Business is bad. There are fewer customers compared with last Chinese New Year," she said.

But a 75-year-old stallholder at Tiong Bahru, who wanted to be known only as Madam Goh, said she did not raise the prices of all her vegetables despite suppliers increasing prices by 30 per cent.

"We absorbed the costs. If we increase prices, no one would buy," she said.

A spokesman for supermarket chain Sheng Siong said prices of Chinese pomfret and red grouper have increased by 10 per cent to 15 per cent due to high demand.

"We have kept the prices for most of the seafood items stable," she said, adding that weather conditions affected supply.

Vegetable prices have also gone up due to higher freight and labour costs, but the spokesman said it will be offering "attractive promotions" during the festive period.

A FairPrice spokesman said prices of seafood and vegetables are generally stable, but the price of Chinese pomfret and red grouper rose by about 15 per cent. It will continue to diversify sources for fresh produce by working with local farms and overseas suppliers.

DFI Retail Group, which runs Giant, said sales of Giant's Lower Prices That Last range increased by 50 per cent over the last four weeks. The range includes fish like golden pomfret and vegetables like chye sim.