The Penang Hindu Association (PHA) has reported a sharp rise in the prices of essential goods, with some items seeing increases of up to 400% as Chinese New Year and Thaipusam approach.
PHA president P Murugiah, in a statement today, revealed that the association had received numerous complaints from its members regarding the price hikes. In response, they conducted a random survey across various retail stores to assess the situation.
“We observed a steep and unreasonable rise in the prices of essential goods and spices this month compared to their prices last October,” Murugiah stated.
He explained that a quick survey of seven items revealed that the price of tomatoes had surged from RM1.60 per kg to RM8.00 per kg, marking an increase of RM6.40—equivalent to a staggering 400% hike. Murugiah further noted that all seven items surveyed by PHA recorded price increases exceeding 50% compared to their October levels.
He pointed out that the price of white garlic imported from China had risen from RM5 per kg to RM14.50, reflecting a jump of RM9.50 or 190%. Similarly, the cost of cardamom from India surged from RM92.10 to RM220 per kg, an increase of RM127.90 or 139%.
“Black sesame seeds, commonly used during festive seasons, climbed from RM10 per kg to RM19.50 per kg, a rise of 95%,” he said. He added that the price of coconut milk also experienced a significant hike, going from RM9 per kg to RM15 per kg—an increase of RM6, equivalent to 66.7%.
Murugiah noted that raw coffee prices have also surged, with a 200g packet of Bru Coffee rising from RM13.50 to RM21.00—an increase of RM7.50 or 55.5%. He further highlighted that with Thaipusam approaching in mid-February, the cost of husked coconuts has steadily climbed from RM1.60 per fruit in October to RM2.60 in January, reflecting a 62.5% rise. Additionally, he claimed that retailers are citing a shortage of husked coconuts when customers request bulk purchases.
“This raises concerns about the potential hoarding of goods ahead of the festive celebrations,” he remarked. Murugiah explained that some suppliers and wholesalers attributed the price hikes to higher commodity costs and increased import duties.
“While a profit margin of 15% to 20% for retailers can be deemed reasonable, some are opting for margins as high as 40% to 60%. This situation has primarily impacted the B40 income group, forcing them to adopt austerity measures to manage the rising cost of essential goods,” he stated.
The sharp increase in the prices of essential goods, as reported by the Penang Hindu Association, has raised serious concerns, particularly as the festive seasons of Chinese New Year and Thaipusam draw near. With the possibility of hoarding and the rising costs of commodities, many families are left with no choice but to adjust their spending. As suppliers and retailers adjust their prices, the impact on ordinary citizens’ daily lives becomes more evident, underscoring the need for closer attention to market practices and fair pricing, particularly during peak seasons.
Source: Free Malaysia Today
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