Date
11 December 2017
A shop in Sheung Shui displays mooncakes targeted at mainland parallel traders. Photo: Facebook
A shop in Sheung Shui displays mooncakes targeted at mainland parallel traders. Photo: Facebook

Mooncake makers cash in on strong demand

With the Mid-Autumn Festival around the corner, some manufacturers of the traditional Chinese pastry are cashing in on the strong demand and asking for the moon.

Prices have shot up by as much as 40.9 percent, the Sky Post reported Tuesday.

While there is no mark-up at Wing Wah, six other major mooncake makers have increased prices by 3.6 percent to 40.9 percent per box, citing rising costs.

Despite the price hike, some shops in Sheung Shui, New Territories, have run out of stock thanks mainly to mainland parallel traders who have been stepping up purchases, the report said.

Several varieties of mooncakes that were sold out in Hong Kong were found on sale near Luohu station in Shenzhen, with prices of “ice skin” mooncake 40 percent higher than in Hong Kong.

The retail market in Hong Kong remains brisk with the approach of the festival when families traditionally get together, the Hong Kong Economic Times reported.

Executives from restaurants including Super Star Seafood Restaurant and Lucky House Group were quoted as saying that they expect their restaurants would soon be fully booked.

However, due to increased costs, the restaurants have hiked banquet prices by 5 percent to 6 percent over last year’s prices, the report said.

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