Brief: Be Prepared To Pay More, Even If You Eat Nothing But Vegetables.

What Is The News About:

  • Vegetable prices set to increase due to a decrease in supply from Malaysia.
  • The inclement weather caused a fall in supply of vegetables from Malaysia, which resulted in a corresponding decrease in import volume of Malaysian vegetables. Coupled this with a prior increase in import cost of vegetables such as celery and coriander, the increase in price inevitable.
  • If you are a fan of celery, spring onion or coriander, expect these vegetables to face the steepest price increase amongst all other vegetables by 20%.

What Does It Mean For Singaporeans:

  • An average Singaporean requires about 95kg of vegetables, 66kg of fruits and 308 eggs every year. We definitely know of some people who requires more than the stated amount.

” People like Dwayne Johnson definitely eats way more eggs than this.”

  • Out of all the supply for vegetables we need, Singapore farms are only able to support 8% of the vegetables we eat, 8% of the fish we consume and 26% of the eggs required. Hence, close to 90% of our food is imported.
  • With this, it means that food in Singapore is price inelastic due to our reliant on external sources for it.
  • To top it off, Malaysia is our top source of imports for vegetables and fruits, which amplifies the impact of the recent dropped in supply on Singaporeans.

” This means we die die will have to pay for it, no matter the price. Bo Bian.”

Read also: How Much More Are Singaporeans Paying For Starbucks Compared With The Rest Of The World?

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