While the Russia-Ukraine war does not involve us directly, their conflict still leaves an impact on us. In which aspect you might wonder? Well, unfortunately, it is our most beloved—food.
You might notice a slight increase in prices of food locally, all due to the shortage of supplies coming from the region that is rife with destruction.
Increased Price of Manufacturing Staples
Russia and Ukraine are key players in the market for grains and oilseeds, which are the raw ingredients for flours and cooking oils. The flours, in turn, are used in many staples, from noodles to bread.
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The conflict between Russia and Ukraine put pressure on the prices of wheat, corn and oilseeds.
This has led to food importers and manufacturers in Singapore becoming increasingly concerned, with some firms starting to feel the effects of supply disruptions and higher prices.
But as we all know, Ukraine’s ports and businesses have been halted due to the invasion.
As such, suppliers there have become uncontactable, leading to problems for Singapore importers.
Supermarkets Face Higher Food Prices
According to the Singapore Food Agency, Singapore does import some foods such as eggs and cooking oil, from Ukraine, as well as seafood and alcoholic beverages from Russia.
However, the volumes are low, meaning the impact on Singapore’s imports is low as well.
But what the conflict has affected are oil prices and a supply chain disruption triggered by the coronavirus pandemic, and these developments are likely to put pressure on food prices globally.
Supermarket chains here, including FairPrice, Dairy Farm (Giant and Cold Storage) and Sheng Siong, play it safe by relying on a diverse supplier base to ensure that their warehouses remain stocked and prices for essential items stay affordable.
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Raising Hawker Centre Food Prices
A subsequent impact of higher import prices is the higher prices of cooked food.
Since she took over her father’s yong tau foo stall 13 years ago, Madam Lee Siew Khim had raised her food prices only once before, in 2019.
Madam Lee, 50, who runs Xiu Ji Ikan Bilis Yong Tau Fu at Chinatown Complex Food Centre, will be increasing prices at her stall from next month due to rising food costs.
Her stall sells a bowl of six pieces of yong tau fu or a bowl of noodles or bee hoon with four pieces of yong tau fu for $3. They will go up to $3.50.
Madam Lee is one of the many hawkers whose businesses have been impacted by the Russia-Ukraine crisis and inflation.
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So don’t complain when you realise your neighbourhood foods are a tad pricier lah. It’s just your hawkers trying to adapt to their own rising costs.
And you might already know this, but let me repeat that for you: this is just the beginning.
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