What price, rice!
Straits Times 6 Apr 08;
The Sunday Times surveyed 100 eateries to find out which are raising prices, how those which aren't are coping with rising costs, and what theri plans are. Alex Lam reports
For many restaurants and food stalls, recent global spikes in rice prices come on top of other cost increases.
But a Sunday Times survey of 100 restaurants and hawker stalls across the island found that while 20 have increased their prices, the other 80 intend to absorb the price hike for now.
Most cited loyalty to regular customers, maintaining their brand name and staying competitive as their key reasons.
Rice-eaters have two other reasons to cheer - 96 of the 100 polled said they have not cut back on the amount of rice served, and 99 said they have not downgraded the quality of rice being used, at least for now.
Global rice prices have shot up by more than 30 per cent to more than $1,000 a tonne, and major producer countries have cut back on exports.
At home, NTUC FairPrice has increased the prices of its in-house rice brands by 10 to 15 per cent. The Government has repeatedly assured Singaporeans that the supply is adequate.
Meritus Mandarin's Chatterbox, famous for its Hainanese chicken rice, will keep the prices of its rice-based dishes unchanged.
Said Ms Cindy Lim, the hotel's assistant communications manager: 'We feel rice is a staple, so regardless of the price hike, there has been no change in our portions and prices.'
Its chicken rice remains at $21.50.
Crystal Jade Group's spokesman Daphne Chang said it will keep the prices and servings of rice and rice-based dishes unchanged for now.
The 20 eateries which have increased their prices blamed it on too many costs going up at the same time.
RiceTable Indonesian Restaurant Singapore, which has three branches, is one of them.
Director Kevin Sih said: 'Everything has increased, from gas to oil to food like fish and chicken. And the rising price of rice was the final straw. It was a decision that had to be taken.'
Its buffet lunch now costs $23.90, up from $19.90 two months ago.
The extent of increase varied but most fell within the range of 20 to 50 cents.
Some 37 restaurants and food stalls said that if no relief was in sight, they would up the prices of rice and rice-based dishes.
Another four would reduce the amount given and three would serve rice of lower quality. Twelve would retain the same pricing while the rest declined to comment.
The Big Bird Restaurant in Bukit Timah said it would rather raise prices of other goods.
'Rice is an important staple and we will not touch its price. If we are under pressure from rice price hikes, we will increase the prices of other dishes such as fish,' said manager Betty Chen.
The owners of two stalls in People's Park Complex selling chicken rice and economical rice respectively felt that raising prices will upset regular customers.
The rise in operating budgets is, however, not uniform across the board.
Boon Tong Kee Kway Chap and Duck Rice said its costs have gone up by up to 20 per cent while Hong Kong Jin Tian Roasted Rice and Noodles' increased by 5 per cent. The difference is largely because of different quantities of rice used.
Higher prices will hit those who usually ask for more rice.
Mr Hong Shao Chun, 39, a supervisor with Hyundai Engineering, said: 'I ask for extra rice quite often and additional rice used to cost 30 cents. Now it costs up to 70 cents at some places. If it rises to a dollar, I think I will forgo it.'
Victoria Junior College student Ian Tan, 16, was pragmatic about the current situation. He said: 'If rice becomes costly, I might turn to wheat-based noodles. But if even that rises, I guess we'll just have to live with it.'
Additional reporting by Aw Cheng Wei, Shuli Sudderudin, Chen Meiyue and Samantha Eng
Thailand to meet export target
Straits Times 6 Apr 08;
Thailand, the world's biggest rice exporter, can meet its 2008 export target of 8.75 million tonnes despite an expected drop in exports in the second quarter.
A Reuters report yesterday quoted exporters and traders as saying this.
The New Paper reported yesterday that experts are concerned that the price rise might be 'a further 40 per cent in coming months'.
Mr Jimmy Soh, managing director of rice importer Chye Choon Foods, said: 'The prices are increasing daily. For imports from the Philippines and Bangladesh, it's because of the bad harvests and weather conditions.'
Mr Chua Choon Hwa, director of rice importer Havelock International, noted that higher production costs for things like fertilisers, machinery and transport are also contributing to the escalating rice prices.
