02 Feb '11, 8am

DTN Singapore: Bak kwa sales stay strong despite high prices: SINGAPORE: As Singaporeans usher in the Year of th...

DTN Singapore: Bak kwa sales stay strong despite high prices: SINGAPORE: As Singaporeans usher in the Year of th...

SINGAPORE: As Singaporeans usher in the Year of the Rabbit, some are grumbling about the rising costs of Chinese New Year goodies. Rising global food prices have seen the cost of Chinese New Year goodies like bak kwa and pineapple tarts increase. Market watchers said prices have gone up by as much as 15 to 20 per cent, compared with last year. Song Seng Wun, a Regional Economist with CIMB Research, said: "I think adding on to the problem this year is certainly the supply disruption because of the problematic weather which have basically led many producers sometimes to cut back on the content or just pass on the higher cost itself. "But as I said the key important variable this time is that although costs have gone up higher they have the pricing power to pass it on to consumers because of the stronger economy." Retailers agreed and said that demand has not diminished even ...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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