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With 2023 Chinese New Year fast approaching, prices of bak kwa have gone up by a few dollars per kg at shops in Singapore selling the barbecued meat.
According to Shin Min Daily News, bak kwa merchants attributed the price increase to upward cost pressures from rental, labour costs, and raw ingredients.
How much now?
Three weeks before Chinese New Year on Jan. 22 and 23 in 2023, the price of bak kwa from Lim Chee Guan has gone up from S$36 to S$39 per 500g pack.
It was S$34 in 2021.
Bee Cheng Hiang bak kwa has gone up from S$38 to S$39 per 500g.
Fragrance bak kwa is going for S$62 per kg, up from S$60.
But further increases in prices are to be expected
Why prices increase?
Shin Min quoted industry players as saying that prices might still go up two weeks before Chinese New Year.
A Bee Cheng Hiang spokesperson said manpower increases by 15 to 20 per cent to cope with the Lunar New Year crunch during this time of the year.
The 1 per cent increase in goods and services tax in 2023 was also cited as a reason for further price increases.
Given a host of factors, overall price increases of bak kwa can be as much as S$6 per kg in 2023, compared to S$3 to S$4 in previous years.
Queues forming
Queues of more than a dozen people have formed at Lim Chee Guan along New Bridge Road, Shin Min reported.
Those in line were hoping to get bak kwa at cheaper prices and putting the products in cold storage for the time being.
For bak kwa lovers who are less keen to physically queue at the shops, they can opt to order online and await delivery.