Dear readers, since last year, I can feel the effect of higher cost of living around me: higher electricity, water and refuse removal fees. Higher transport cost. Higher prices of food and even higher price of my meals bought outside.
I have a favourite Bak Chor Mee stall which I patronise regularly and the stall draws long crowds on days it opens for business (business seems so good that the stall opens only four times a week). The Bak Chor Mee from the stall is not only very good, but it is very affordable and the pricing of its menu is below.
Small- Bak Chor Mee (with no dumpling): $2.50
Middle- Bak Chor Mee (with 2 dumpling): $3
Large- Bak Chor Mee (with 6 dumplings): $4
Last week, I went to the stall once again after having not visited it for quite some time. I joined in the long queue and waited for about 45 minutes before it was my turn to order. I was quite surprised to note a different price menu in front of the stall:
Small: $3
Middle: $3.50
Large: $4
Prices have increased for the “Small” and “Middle” order though price for “Large” has remained the same. I logged in my order comprising a mix of Middle and Large Bak Chor Mee with the stall auntie. While waiting, I asked the auntie more about the price increase, thinking that it was just a temporary price hike in view of Chinese New Year.
To my surprise, the auntie told me that the price increase had been in effect from 1 January 2022. As I asked further, especially on why there was no price increase to the Large Bak Chor Mee, I actually learnt that there was still change to the Large Bak Chor Mee. Even though price has remained the same for the Large Bak Chor Mee, the number of dumplings has been reduced from 6 to 4!
This then makes senses to me since based on the former price menu, each dumpling seem to cost $0.25 each. And hence the updated Bak Chor Mee price menu is now as below (note: be it the old or new price menu, the number of dumplings was not stated on the menu in front of the small, just the keywords of order: “Small”, “Middle” and “Large”).
Small- Bak Chor Mee (with no dumpling): $3
Middle- Bak Chor Mee (with 2 dumpling): $3.50
Large- Bak Chor Mee (with 4 dumplings): $4
During my conversation, I learnt from the stall owners that they seem to have no choice but to increase their cost and the stall uncle told me “the past is the past” (and he seem to suggest that I should not keep bringing up the old prices). It seems that the higher cost of ingredients might have finally caught up with them, inevitably since I myself am paying higher fees due to higher cost of living since last year.
As I savoured the Bak Chor Mee after my purchase, which still tasted very nice, albeit portion of the soup seems to have been reduced by 30% now, I am still of the view that the Bak Chor Mee is still very attractively priced despite the price increase, especially with such a high quality of the Bak Chor Mee.
I would think that the stall owners may want to keep their prices to the original low $2.50 to $4 range and price increase to the $3 to $4 range could be their final option to keep pace with the higher cost of living. An important note is that they do not revise upward the former $4 offering for Large (with 6 dumplings) to $4.50. Rather they capped their offerings for Large to $4 (hence reduced the number of dumplings to 4 dumplings) so as, in my opinion, retained the higher threshold of the former pricing. Investors who still prefer two more dumplings to go with their Large order can proceed to just top up.
Hence, I am still supportive of my favourite Bak Chor Mee and hope they can pass their skills to successors so that Singapore can still have these great and traditional Bak Chor Mee in many more years to come.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! I also run another blog Singapore Stocks Investing with similar useful insights! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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