Mandarin prices to rise 10-15% by Chinese New Year
The citrus fruit, a must-have during the festival, may cost up to 20 per cent more in the Year of the Rooster, due to decreased supply and a stronger American dollar, said local importers.
Typhoon Megi, which hit Taiwan in September, and a January frost in China have caused a 20 per cent drop in supplies of the fruit, said Mr Kelvin Ong, category manager of fruits at Cold Storage.
He estimated that mandarin orange prices would increase by 10 to 15 per cent in general, though he said the supermarket chain is in discussions with suppliers to keep prices as close to the last Chinese New Year's levels as possible.
Importers also believe that fewer mandarin oranges may be sold this coming festive season. The timing of the new year has fallen at an inopportune time when parents are spending money on their children to get them ready to go back to school.
"When Chinese New Year falls at the end of January, demand is always bad because ... buying power is not as strong." Singapore Fruits and Vegetables Importers and Exporters Association vice-chairman Tan Chin Hian said.
source: straitstimes.com
