Fish Prices May Go Up 30-40% During Festive Period
Fishmongers have cautioned that customers can expect a 30-40% increase in fish prices over the Chinese New Year period.
The hike in prices is partly due to new restrictions by the Malaysian government, who will prohibit the export of four species of fish and shrimp to meet the Malaysian market shortage during the monsoon and festive seasons.
For the first two months of 2019, Malaysia will prohibit the export of “kembung” (mackerel), “selar” (trevally), “pelaling” (Indian mackerel) and “bawal” (pomfret) fish and shrimp.
However, the Agri-Food & Veterinary Authority of Singapore (AVA) said that the export restrictions are unlikely to have a significant impact, as the affected species make up less than 10% of Singapore’s total food supply.
According to the AVA, such export restrictions are not new – they have been in place over the past six years.
Last year, the price of seafood at wet markets increased by up to 20-100% during the festive season.