Vegetable & Seafood Prices Expected To Soar During CNY Due To Rainy Weather
The wetter weather has led to a 10% to 20% rise in vegetable prices, which are expected to increase even further in the coming weeks.
By Kay Ng — 13 Dec 2022, 02:31 PM
Vegetables and seafood prices have risen due to a drop in yield caused by the recent rainy weather, and prices are expected to soar even higher during the Chinese New Year period
According to Kuala Lumpur Vegetable Wholesalers' Association president Wong Keng Fatt, vegetable prices have started increasing by between 10% and 20%, and are susceptible to a further price hike in the event of floods.
"The prices have increased this week, but it is not the real increase yet. It will be more expensive in the coming weeks if the downpours continue," he told The Star.
“Also, if there are floods this month and next, then definitely the supply of vegetables will be affected, [further] driving up prices for the Chinese New Year,” he added.
Abnormal weather patterns over the years have resulted in reduced catches for fishermen
"Years [ago], around September to October would have been the peak of the seafood season. But now it's still raining and strong winds have affected both raw catch activities and [the] migration of the fish," said seafood supplier and North Ocean Holdings director Candice Goh.
Additional factors for the increment of seafood prices include a higher post-pandemic consumer demand due to the rising number of large-scale gatherings, as well as the high cost of hiring foreign workers due to Malaysia's relatively weak currency.
Distributors were also cited as one of the main culprits for the price hike
According to Kenn Wai, owner of Agro Bright Farm, distributors who control the market price and overcharge customers are the primary factor behind rising vegetable prices.
"That's why my farm and a few of my farmer friends don't sell to distributors. We sell directly to end-consumers and educate them on who the farmers are who grow their food," he said.
