No Licence to Charge More for Rice Price Increase

Yes it has been confirmed on 2 things as reported by the media:
1) Rice price is increasing - not just in Singapore but in all over the world
2) Rice stalls in Singapore is raising their prices for selling food to consumers

It has been widely reported in Singapore Media recently that a plate of chicken rice has been raised from SGD3 to SGD3.50 by many hawkers, coffee shops and eating places. Reason given is due to increase of price of rice from SGD57 to SGD65 per 50kg of rice.

I was trying to do up a quick analysis of it and were shock to see the results. It it uses 150kg of rice per day, this means that the shop is selling about 2,500 plates of chicken rice a day, assuming they use 65g of rice per serving of chicken rice.

Thus be raising the price by SGD0.50 per plate, this will easily increase in revenue of about SGD1,150 a day (Using SGD0.50 X 2,500 Plates), or SGD34,000 per month.

Problem is that the shop only pays an extra SGD24 more for rice over the same period. So if we look into the Math, the increase in plate of chicken rice is in fact 48 times more than the increase in rice.

Surely, this should be look into by appropriate goverment bodies or authorities.