The Malaysia Singapore Coffee Shop Proprietors’ General Association expects food prices to rise due to the country’s reliance on food imports as well as the weak ringgit.
In a statement on Monday, MSCSPGA stated that Malaysia’s food prices are expected to rise further in the third quarter of 2023 due to the country’s reliance on food imports as well as the currently weak ringgit. “We strongly urge the government to introduce incentives and long-term solutions in addressing these issues in the upcoming Budget 2024,” it said.