![]() We'd rather live with smaller profits,” he said.Ī box of four double-yoke Wing Wah mooncakes costs 278 Hong Kong dollars (35.64 US). “We don't want to drive our long-time customers away by matching the prices with the cost of production. “We had no choice but to increase the price as the ingredients have become so expensive now,” Lee told AFP, adding that the company has capped its retail price rises at five per cent. The more costly ingredients have contributed to a 26 per cent increase in overall production costs, said Lee Ying-kuen, spokesman for the brand. Wing Wah, the oldest mooncake manufacturer in Hong Kong, said the cost of peanut oil had jumped 80 per cent because of the surge in peanut prices in China.įlour costs 10 per cent more than last year while egg yolks - embedded whole in the filling to symbolise the phases of the moon - are up 20 per cent. Mooncakes - heavy blocks of sticky lotus seed or red bean paste with two or four whole egg yolks, encased in a thin pastry embossed with Chinese characters and motifs - have enjoyed a comeback among both old and young in recent years, Hong Kong bakers said.īut the increased demand for the treat, traditionally given as presents to mark the autumn moon, has not translated into profits for the bakeries because of the global rise in the cost of raw ingredients. ![]() ![]() HONG KONG Soaring food costs have eaten into the profits of mooncake makers ahead of this year's Mid-Autumn Festival, offsetting a renewed appetite for the distinctively Chinese sweetmeat.
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