Price of fruit and vegetables set to rise after rent hike at Melbourne Market

The price of groceries is set to skyrocket after wholesalers at Melbourne Wholesale Fruit and Vegetable Market in Epping were slapped with crippling rent increases.

"You can't hand down this type of increase without some of it being passed to the consumers," Fresh State chief executive Jason Cooper said. Traders who currently operate out of the market are bracing for a rent rise of 7.6 per cent to compound each year for 10 years.Following the increase, they would be paying more than $220,000 by the end of the decade.

"The impact on the tenants is going to be based on whether the tenants choose to pass that price onto their retail," Melbourne Market Authority chief executive Mark Maskiell said.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Free tram rides to the MCG, Victoria Market come at a priceCalls to expand Melbourne’s free tram zone to landmarks and inner suburbs have been shot down by transport advocates who say paying commuters are being crowded out.
Source: theage - 🏆 8. / 77 Read more »

IKEA annual sales slump, commits to price cuts amid weak housing marketIKEA annual sales slumped 5% as consumers pull back on furniture purchases amid a weak housing market, according to an earnings report released Thursday.
Source: SkyNewsAust - 🏆 7. / 78 Read more »