Why Are Mooncakes Getting Outrageously Expensive? - Free Websites, Share News And Posts Publicly

Good morning.

Getting your mooncakes at a sweet price may be a tad harder. The Mid-Autumn Festival is just around the corner, and prices of these seasonal treats go up every year.

This year, the most popular varieties can cost almost S$100 for a box of four. I wanted to know what’s affecting the price of these moon-shaped pastries and what exactly I’m paying for.

During Money Mind’s visit to a factory that churns out thousands of mooncakes daily, I was told that the cost of ingredients like lotus paste, flour and sugar is going up.

But does inflation really vindicate the “ridiculously” high price tags, as several of our YouTube viewers point out? And how much of the cost is down to the fancy packaging meant to impress gift recipients?

I discovered that a cost-effective way to enjoy mooncakes is to make them yourself.

Considering it was my first time, I found it quite easy. It takes around 2-3 hours for a beginner to whip up a batch of mooncakes at home – at a cost of just over S$2!

So why do so many still pay “over the moon” prices for our mooncakes?

Also on food price hikes: This week on Money Mind, we’re asking if there is a silver lining to the rising cost of rice.

Plus, while we’re worrying about price movements, do check out our other recent video on why falling prices in China could be bad news for all of us.

Jake Ho

Senior Producer, Money Mind