Wednesday, November 30, 2022

Prices Of Goods Are Set To Hike Again After Devastating Floods In Malaysia

NewsPrices Of Goods Are Set To Hike Again After Devastating Floods In...

Several parts of Malaysia were hit by massive flash floods over the weeks and in some areas, the situation is turning well and people are returning home to clean up the mess.

After the massive destruction the floods brought upon, its impact on the economy is gradually sipping in as prices of daily necessities such as fish, chicken, meat and vegetables are on a price hike frenzy again.

Meanwhile, the main reason behind the price hike was reported to be the lack of supply of raw materials and increased transportation costs as most lorries had to take alternative routes to avoid flooded areas.

Source: Today Online

According to Kosmo, the price hike had put more burden on the consumers, especially when they had to focus on repairing their homes and vehicles.

In an interview between Kosmo and the locals, a trader at Pasar Harian Selayang who wanted to be known as Devi, 33, said she is currently facing a problem of insufficient meat supply.

“Now the supply of beef and mutton is very difficult to get because there is none.”

“We here also can’t want to sell expensive, as it would scare our customers. The price from suppliers is very expensive and always goes up every day.”

“In the past, the price of meat only went up once every 5 years, but now it goes up every day by an estimated RM2 to RM3,” she said, adding that the problem within the supply chain has been lingering since the Movement Control Order (MCO) and it became more critical after the country was hit by floods recently.

Meanwhile, in Kuala Terengganu, a trader, Nor Hazana Harun, 38, claimed that prices of vegetables such as eggplant, spinach, tomatoes, and cabbage had increased due to transport issues as suppliers from Cameron Highland had to use alternative routes due to the floods.

Source: Johor Kini

“Similarly, supplies from Kelantan and neighboring Thailand, which were also affected by the floods. However, the price increase was drastic and I only make a RM1 profit from the price for each type of vegetable I sell,” she said.

The situation is similar across peninsular Malaysia and most traders and consumers had expressed their concerns over the price hikes. However, this trend may continue until the authorities take real action to resolve the fundamental issues, from preventing floods to restoring the supply chain.

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