Abalone prices expected to decline by up to 20%
By Maggie Cheong/Lynda Hong, Channel NewsAsia | Posted: 05 February 2010 2210 hrs

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SINGAPORE : Prices of abalone are expected to come down by as much as 20 per cent during this Lunar New Year due to oversupply.

This is the result of unsold abalone from last year as well as the entry of more brands into the market.

There are now over 20 brands of canned abalone, compared to just three in previous years.

Some distributors have also introduced fresh abalone, which they said can be fried, steamed or even eaten raw. - CNA/ms