Bak Kwa Prices In Singapore Increase As CNY Approaches
Given how popular bak kwa is, it’s perhaps unsurprising that the meat jerky goes for a premium whenever Chinese New Year (CNY) is around the corner.
2024 is no exception as bak kwa prices at some popular shops have risen by more than 10% this CNY compared to last year.
Source: Google Maps
Bak kwa shops cited rising manpower and raw material costs as some of the reasons for the price hike.
Higher bak kwa prices in Singapore weeks before CNY
As we start counting down to CNY, some popular bak kwa shops in Singapore have already started launching festive prices for its meat jerky products.
Last Thursday (11 Jan), Lim Chee Guan unveiled its pricelist for the 2024 Lunar New Year.
Source: Lim Chee Guan on Facebook
For the festive period this year, Lim Chee Guan’s Signature Slice Pork bak kwa is going for S$80 per kg — S$2 more than the festive prices of its bak kwa last year.
Meanwhile, 1kg of sliced pork bak kwa at Bee Cheng Hiang is going for S$72. Shin Min Daily News reported that this is about a 10% increase from the festive prices last year.
Source: Bee Cheng Hiang
Over at Fragrance, 1kg of its Signature Sliced Bak Kwa is going for S$66. However, Fragrance’s bak kwa is now available online at a discounted price of S$59.40 per kg.
Promotional prices aside, Fragrance’s signature bak kwa costs S$4 more this year compared to last year, according to 2023 CNY bak kwa prices collated by MoneySmart.
Bak kwa shops cite rising costs for increased prices
Speaking to Shin Min Daily News, a Lim Chee Guan spokesperson cited rising labour and raw material costs for the higher bak kwa prices this year.
The spokesperson added that there’s a slight shortage in pork supply, which further affects prices here as Singapore imports pork from other countries.
Despite these challenges, the representative said that the company will try its best to absorb the rising costs and prevent a further price hike.
Meanwhile, a spokesperson from Kim Joo Guan cited similar factors for its imminent price hike.
Kim Joo Guan’s Traditional Bak Kwa is going for S$64 per kg, but will increase to S$70 per kg from this Saturday (20 Jan).
With prices rising, we’ll have to see if people will still line up at popular stores or flood their websites like they did with the Lim Chee Guan online shop in 2021.
Lim Chee Guan’s Website Down Due To Surging Pre-Orders, Store Contacting Customers Who Need Help
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Featured image adapted from Google Maps and Google Maps.
