Prices of raw goods in Sabah still affordable – economic consultant

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Madeline

KOTA KINABALU: Former Associate Professor of the Faculty of Economics and Management, National University of Malaysia (UKM) Dr Madeline Berma is conducting studies on the cost of living that is a hot issue being discussed lately.

Through her studies, she compared the prices of raw goods by focusing on several markets in Kota Kinabalu.

She said in Sabah, there were two main markets, namely the Kota Kinabalu Central Market and the general market near the Kota Kinabalu handicraft market, which is also known as the Philippine Market, being the focus of locals for raw materials such as vegetables, fish, meat, fruits and so on.

“The issue that is focused on my research is that prices at the general market are much cheaper when compared to the Kota Kinabalu Central Market, but the sellers there are selling in large quantities.

“For Kota Kinabalu Central Market, the prices of goods remain expensive compared to the general market where they are categorized as informal sales where sellers are categorized as hawkers,” she said.

She added that the difference in the price of raw goods between the two big markets were also influenced by the type of sector and the cost of the place rented by the seller.

Raw goods sold by traders at the general market were seen to be cheaper due to the informal sector sales.

Madeline said the prices of raw goods at the central market were slightly more expensive as sellers were forced to take into account the cost of selling their goods.

However, the Fellow of the Academy of Sciences Malaysia did not deny that the overall price of raw materials in Sabah was still lower and affordable compared to those in Peninsular Malaysia.

“For me, Sabah, in terms of the cost of raw food, is very cheap compared to other states … but the prices of the goods will be comparable to prices in the Peninsular when they are cooked and sold.

“This is because the cost of processing raw materials is high,” she said.

Asked on the quality, Madeline, who now serves as economic consultant and analyst at NuMind Plus, said the quality of raw materials in Sabah was quite fresh and of high quality compared to Sarawak and Peninsular Malaysia.

“Incidentally, I just visited the fish market here (Safma Fish Market). I saw the price was quite cheap and just caught from the sea. For example, the price of ‘sotong’ is RM10 (per kg) here, but in the peninsula, the price is over RM24 per kilogram.

“The quality is definitely quite fresh … the people of Sabah are very fortunate to have rich and high quality seafood and land,” she said.