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SINGAPORE : Sugar prices have risen by some 50 per cent over the past two years.
And although some coffee shops have increased the price of their cup of coffee, others are absorbing the hike to retain customers.
One merchant association is also advising members to bear the costs, saying the price hike is not significant.
It now costs coffee shop operators some S$100 more every month for their sugar.
Shops said they also face other pressing issues, like utility bills, rent, and staff wages. Increasing water and electricity bills have also raised operating expenditures.
Hong Poh Hin, first vice chairman, Foochow Coffee, Restaurant and Bar Merchant Association, said: "The economy is just recovering. So if you raise prices, you might lose customers. Only about 5 to 10 per cent of our members increased their prices." - CNA/ms
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