Bak kwa
If bak kwa prices are a barometer of the economy, this year’s readings are muted.
A kilogram of sliced bak kwa from Bee Cheng Hiang, in the week before CNY, costs S$74, up marginally from S$72 in 2024.
Peng Guan Bak Kwa held its prices steady last CNY, but has raised them this year to S$56 per kg, from S$52 before.
Other major players have kept prices the same, at S$66 per kg for Fragrance and S$80 per kg for Lim Chee Guan.
Lim Chee Guan has kept its prices unchanged despite increases in production costs such as raw materials and manpower, choosing instead to absorb these, a spokesperson told The Business Times.
Pineapple tarts
Ingredient, labour and operating costs have gone up some 30 to 40 per cent this year, but bakeries are absorbing the rise to keep pineapple tarts affordable for customers.
At Kele Bakery, each 700 g tin of pineapple balls or open-faced pineapple tarts goes for S$33.80, the same as in 2024.
The bakery has mitigated cost increases by locking in raw material prices in advance with key suppliers, said a spokesperson.
At Mdm Ling Bakery, a 400 g box of pineapple balls retails for S$21.80 before discounts, the same as last year.
Some bakeries, which could not absorb the rise in cost, are sourcing tarts from elsewhere.
These include Lek Lim Nonya Cake Confectionery, which is importing them from Malaysia.
Third-generation owner Gavan Sing said that the bakery will instead focus on producing its signature festive item, frozen pre-cut nian gao.
“That way, we are able to be unique as we are the only company in Singapore that is able to produce nian gao in this form,” he added.
Seafood
This season, shoppers at wet markets may notice that fresh seafood prices are some 15 per cent higher than usual.
In addition to the usual festive price hike, fishmongers attribute the higher prices to the rainy monsoon season, which has reduced the supply of fish.
Popular items such as pomfret, grouper and sea cucumber have experienced “slight increases”, noted Libin Sim, executive director of the Seafood Industries Association Singapore.
But the prices are still moderate compared to previous festive seasons, he added.
A spokesperson for DFI Retail Group, which operates Cold Storage and Giant, said that chilled seafood prices are 3 per cent lower than in 2024, across their supermarkets.
The group also has secured “competitive pricing” for prawns and frozen seafood. Sim said that wholesale prices for frozen imported prawns and abalone have been flat.
Hamper
Hamper sales are down some 15 to 20 per cent for The Hamper Story, which director Monica Bhansali attributes to the “condensed timeframe” between the year-end festive season and this year’s earlier-than-usual CNY.
Yet, the company has had to raise its prices by up to 20 per cent, due to higher raw materials and labour costs.
Its CNY hampers range from S$98 for a set that includes chicken essence and bird’s nest to S$888 for a set with whiskey, abalone and mandarin oranges. Bhansali hopes for a surge in sales in the final lead-up to CNY.
Meanwhile, Simply Hamper has kept hamper prices unchanged, even as the costs of packaging – such as wooden crates and plastic bags – have risen 10 to 15 per cent.
The company previously sourced its packaging locally, but has switched to cheaper overseas suppliers, said founder Alexis Tan.
Its CNY hampers range from S$76 for a basket of mandarin oranges to S$1,835 for a set that includes cognac, bird’s nest and abalone.
Mandarin oranges
Fortunately for mandarin orange sellers, the cost of the festive fruit has been stable this year. For most orange varieties, Sin Kian Choon Fruits (SKC Fruits) has paid its suppliers similar or even slightly cheaper prices this year, compared to 2024.
SKC Fruits said that based on last year’s market demand, suppliers are focusing on two varieties this year: Hong Mei Ren oranges from China, which retail at S$22.80 per 3 kg carton of 12 to 14 fruits; and Ai Yuan Jelly oranges from Taiwan, at S$15.80 per carton of eight.
SKC Fruits has kept its prices for Hong Mei Ren oranges about the same this festive season, compared to last year. Ai Yuan Jelly oranges are a new addition to its offerings.
At Soon Lee Heng Fresh Fruits, an 8 kg carton of 46 mandarin oranges retails at S$28.80, up from about S$26 last year.
But for the pricier Hong Mei Ren variety, a 3.5 kg carton with 10 to 14 oranges goes for S$32.80.
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BTVISUAL: HYRIE RAHMAT, GARETH CHUNG, SIMON ANG, BT