If you fancy some Kuih for the upcoming Raya, brace yourself for a possible increase in prices. Malaysian Kuih vendors recently hinted at a surge in snack prices, going up as much as 25 per cent.
This is due to the price hike for coconut milk, one of the primary ingredients for making traditional Kuih
According to Harian Metro’s observation at a market in Pasar Kubang Pasu, Kota Bharu, Kelantan, most vendors are still retaining the price of RM2 for three to five Kuihs.
“We have no choice”
43-year-old Tarmizi, who is one of the vendors at the market said he has been selling the snacks at the same price for 5 years now, but that is about to change.
The price is expected to increase to RM2.50 during Aidilfitri due to increased costs.
“Other vendors and I decided to increase the price by 20%. It’s not only the surge in coconut milk prices but also other raw materials.”
According to him, coconut milk was sold at RM10 for 1 kg previously but the price has increased to RM16 since December 2024. Despite this, most vendors are still sticking to their original prices. However, the profit comes into play when prices of goods continuously increase.
“We didn’t want to increase the prices but we have no choice. We can’t earn that much if we stick to the old pricings.”
“Sometimes, we manage to sell everything but at other times, we have leftovers,” Tarmizi said.
A coconut milk vendor hinted at the possibility of ANOTHER surge in prices
He states that prices could go up to RM20 for 1 kg during Ramadhan.
This is due to the higher demand from the locals but a lack of supply from Indonesia, where the vendors get it for RM3.40 for one coconut.
“As of now, I am still selling 1 kg of coconut milk for RM13. I don’t have the heart to increase the price but I would have to if the price of coconut milk goes up.”
To those who are in the F&B industry, what do you think of this? As for the consumers, are you ready to pay more for the Kuihs?
Also read: Finance Ministry Addresses Claims That Vehicle Prices in Malaysia are Increasing Up to 30% Next Year
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This post first appeared on WORLD OF BUZZ.