Noodle prices to go up in wake of rising flour costs
YOU may soon have to pay more for a bowl of noodles.
Following a jump in flour prices recently, the wholesale prices of noodles are shooting up too.
Yesterday, the Singapore Noodles Manufacturers Association announced it has recommended a price increase of 20 per cent to 30 per cent to its 30 members.
This means raising prices by 20 cents to 30 cents per kg, depending on the type of noodle.
Members can increase prices immediately or by Thursday, the association's chief, Mr Phua Koon Heng, told Chinese daily Lianhe Wanbao yesterday.
They are free to decide how much to raise prices by.
The rise in the price of noodles follows a 20 cent increase in the price of a loaf of bread announced a week ago.
Both are linked to the spike in flour prices caused by a worldwide shortage in the supply of wheat.
In a statement, the association said its members have to raise prices 'as a last resort to cope with the dramatic rise in their cost burden'.
It spelt out price increases for raw materials such as bread flour, which has gone from $20.50 per 25kg in July to $28 this month.
The price of ordinary flour has also increased 50 per cent, from $15 to $22.50 per 25kg. The price of edible oil has also gone up from $1 to $1.40 per kg over the same period.
On average, the cost of raw materials has gone up by a third.
The association said members also had to deal with rising diesel prices, wages, rental and other assorted charges.
The hike, to 'offset the increase in business costs', may not be enough to cover all such costs, the association said.
Hawkers interviewed yesterday said they were not increasing prices for now.
Ms Xiu Ping, 38, a helper at a noodle stall, said the price of vermicelli went up from $7.50 for a 3kg packet to $9 two weeks ago. But she said there were no plans to raise the prices of dishes at the stall.
Mr Jimmy Ng, 33, said his noodle supplier had not increased prices to his chicken rice and noodle stall. He now pays $1.70 to $2 for 1kg of noodles.
Mr Seah Seng Choon, executive director of the Consumers Association of Singapore, said the rise in wholesale noodle prices was 'marginal'.
'We expect hawkers to refrain from taking advantage of this increase in cost to up the price,' he said.