KOTA KINABALU: Deep-sea abalone is 20 to 25 per cent more expensive this year due to falling stocks, according to a traditional Chinese medicine retailer in city centre who declined to be named.
He said deep-sea abalone stocks in the main producing countries, such as Australia, New Zealand, Mexico and South Africa had declined due to climate factor and ocean currents.
The top grade Mexican abalone stocks were heavily depleted last year, he said.
He said the canned Mexican abalone in the market were from previous stocks and were currently sold at over RM500 each.
He said abalone, sea cucumbers, fat choy, dried oysters and mushrooms were some of the favourites among Chinese families with better financial background during the Chinese New Year celebration.
However, he said the climate factor and ocean currents during the harvest season in June and July had caused a sharp drop in the harvest of abalone in the main producing countries.
As a result, he said the price of canned abalone had increased by 20 to 25 per cent, or about RM30 per can.
For instance, a can of abalone sold at RM 110 last year is now priced around RM130.
On the other hand, he said both the local and imported sea cucumbers were also short in supply this year.
He said the sea cucumbers available in the market now were mostly produced in Indonesia, Papua New Guinea and Maldives.
Due to the shortage, the price of sea cucumbers had gone up by 30 to 40 per cent, he said.
Nonetheless, he said the prices of mushrooms, fat choy and dried oysters remained stable.
Similarly, Radiant Asia Sdn Bhd in Foh Sang also reported a slight price hike for canned abalone as well as Chinese sausages from Peninsular Malaysia.
Canned abalone sold at Radiant Asia are priced between RM36.80 and up to RM598 for Mexican abalone.
The shop said sales of Chinese New Year products were still slow at the moment and was expected to pick up in February.
Meanwhile, a retailer selling homemade cookies in Foh Sang said the price of Chinese New Year biscuits had increased by about RM2 per container as the cost of raw ingredients, such as seaweed, butter and cooking oil had gone up.