PETALING JAYA: The recent price hike on many things has caused a snowballing effect in many industries.
The major problem is for food outlets who may in turn start raise their prices. The latest to announce a price rise are the edible ice makers.
From Wednesday, the price of a 50kg block of ice will be increased to RM2.50 while the 10kg bag of ice will be around RM3.
This announcement has been made by Tube Ice Manufacturers of Kuala Lumpur, Selangor and Putrajaya on Tuesday.
Malaysian Indian Restaurant Owners Association president Datuk R. Ramalingam Pillai said the ice suppliers are thinking of a nationwide increase as many of them are national level suppliers, and this means restaurant profits will be hit.
Penang Hawkers’ Association president Ooi Thean Huat said his members could no longer absorb all the price hikes.
“But if we do raise prices, it will be a small increase,” said Ooi.
According to Chin Yoke Weng the chairman of the Johor Baru Small Business Association said that the association member would maintain their drink prices despite the price hike but the Johor Bumiputera Consumer Association deputy president Norizan Tarmeze said she expected many restaurants to hike the price of drinks.
It wont be too long when other food prices will increase due to the rise of the these price hikes.