Besides rice, bread is second to our Malaysian diet. If you’re a fan of bread however, do take note of this upcoming price change from Gardenia.
Starting this 1st of October, Gardenia will be marking up prices on 30 of their products
Beginning next month, 30 Gardenia products will be subject to a price increase ranging from 3% to 5%. The price of their white bread remains the same.
Hong Chee Meng, the president of the Federation of Sundry Goods Merchants Associations of Malaysia confirmed this. Speaking to Sin Chew Daily, Hong said that only bread products with fillings would see a price increase. So far, no other bread companies have made similar announcements.
Why the price increase?
Gardenia has cited several factors that have contributed to the decision to increase prices. Due to the Employment (Amendment) Act implementation in January 2023, human resource costs for the have risen for the company. Additionally, Gardenia has been grappling with soaring electricity bills and a 30% increase in natural gas prices.
Rising costs of raw materials have also played a significant role in this move. Gardenia has experienced a 72% increase in gluten prices, a 50% increase in yeast prices, and a 38% increase in bulk sugar prices. These factors have collectively put pressure on the company’s bottom line, necessitating a price adjustment.
A price increase may not be the news we want to hear. Still, it’s important to understand the challenges faced by businesses like Gardenia. We can only hope that there won’t be any other price hikes coming our way.
Nevertheless, let’s do our best to adapt our budget and continue supporting our local brands.
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