Sok Hwee/ Lynda Hong, Channel NewsAsia 5 Jan 09;
SINGAPORE: The Lunar New Year is about a month away but wholesalers dealing in dried seafood do not have much to cheer about. They said business has been poor for the past half a year.
Dried seafood prices have been sliding. Compared to half a year ago, the price of canned abalone has dropped by five per cent. A can now costs between S$30 and S$50.
Dried scallops, mostly imported from Japan and China, are 15 to 25 per cent cheaper. Despite the strong yen, prices have dropped to S$105 to S$175 per kilogramme.
Prices of sharks' fins have also dropped by five per cent, costing S$300 to S$1,000 per kilo.
Prices of sea cucumbers have been volatile for the past few years but recently, prices have stabilised to between S$200 and S$400 per kilogramme.
Importers said that even though prices have dropped, consumers are still not buying.
Apart from the economic uncertainty, the merchants have another concern. They may have to move out of the centre at Victoria Street as their lease ends next September.
But the association said that no matter what happens, it plans to keep all importers together. - CNA/vm
