SINGAPORE: With the squeeze of the rising cost of living, as well as hikes to the price of water, electricity and gas, several stall owners at the newly reopened Upper Boon Keng Market and Food Centre are contemplating raising fare prices to cope.
The food centre, which has been undergoing renovation works for the past two and a half months since 4 Sept, reopened on Tuesday (21 Nov). While vendors who spoke to Lianhe Zaobao expressed excitement at the newly repainted and sparkling clean premises, some are forced to consider making tough choices to survive.
One vendor running a drinks stall said he has to raise prices in the near future to cope with the financial squeeze. 59-year-old John told the Chinese Daily that he had been running his stall for about seven years and had never raised prices. He sells coffee and tea for an extremely low price of 80 cents per cup.
John said he is increasingly unable to bear the cost pressure and plans to raise beverage prices soon. Coffee and tea prices would increase by 2 cents, while other beverages would increase by 1 cent. However, the price he has set is still cheaper than that of many other drink stalls.
He said, “We have to bear the increase in prices, water, electricity, and transportation costs ourselves. The cost has increased by 50% since the opening. If we can’t afford the price, it will be very difficult.”
A Hainanese Chicken Rice seller said that the cost of ingredients is also rising, with 25kg of rice now costing $2. This 63-year-old vendor has decided against raising prices for now as he is worried about how diners will bear any increases to the price of his food.
Residents have been flocking to the food centre for affordable and delicious fare since the reopening. Pointing out that the food sold at the centre is still much cheaper than elsewhere, diners said they understand if prices have to go up as the cost of operating such stalls is undeniably rising.
One diner, a 58-year-old private hire car driver, said: “I think some stalls will definitely raise their prices. There is no way, everything is expensive, but people still have to eat. Fortunately, the food here is affordable and delicious, so I will come here twice a week before the renovation.”