Mooncakes have also increased in price!
The Mid-Autumn Festival is approaching, and the 2022 Mid-Autumn Festival falls on Saturday, September 10. Mooncakes are a must-have food for the Mid-Autumn Festival, and this year’s Mid-Autumn Mooncakes have also increased in price by about 10% amid inflation.
The most important ingredients for making mooncakes are flour, sugar, eggs, cooking oil, lotus seeds and almonds, etc. All the ingredients except sugar have increased in price this year, and flour has experienced several price increases in a year.
The government has also raised the price of eggs since July, with the top price of Grade A eggs at 45 sen each, Grade B eggs at 43 sen and Grade C eggs at 41 sen. The price increase is 2 cents per egg.
As for cooking oil, the government gave up subsidizing cooking oil in July this year, allowing it to float freely with the market price. The government then set a ceiling price for pure palm cooking oil from August 8, with the ceiling price for a 5kg bottle of pure palm cooking oil being RM34.70.
As for beans and lotus seeds, which are mainly dependent on imports, importers are forced to purchase the materials at a higher price amid the continued strength of the US dollar. Plus, with the global outbreak of inflation, the prices of these materials have also gone up a lot.
Not only that, but the price of plastic bags for packaging mooncakes is also increasing, and mooncake vendors are forced to raise the price of mooncakes.
In order to push up the popularity of mooncakes, some businesses will launch special flavors of mooncakes and gifts to attract customers to buy.
