Malaysia: Weakened currency causes mandarin price rise of 30%
Sin Lee Fruits Enterprise owner Alice Tan said that because of the weakened ringgit, a box of 8kg oranges costs $14.05 this year compared to $7.18 last year.
“The price has increased by as much as 30 per cent,” she said, adding a box of 4kg oranges was being sold at RM17 this year. Ms Tan was happy, however, as the price rise was not deterring people from buying mandarin oranges. “The word kam sounds like gold and giving out the orange is akin to giving out wealth to the receiver,” she said.
Ms Tan said sales were expected to pick up as Chinese New Year drew nearer. “Most customers only buy oranges a week before Chinese New Year as that is when they will get their bonuses,” she finished.
source: todayonline.com
