Food commodity prices are on the rise again. According to the Ministry of Economy, the prices of sugar and cooking oil will be adjusted upwards by about 8% this week at the earliest. And a wide range of food products, especially snacks, are expected to be impacted as well.

Breakfast eateries are stocking up on sugar due to speculation that sugar prices will rise.

The Ministry of Economic Affairs recently announced its first sugar price hike since last October.

The price of 1-kilogram bags of Taisugar sugar will reportedly increase by 8% from 36 NT to 39 NT.

Meanwhile, the price of 18-liter containers of cooking oil will be adjusted by 7% from 780 NT to 840 NT.

The price hikes could be implemented as soon as this week, and bakeries and eateries are likely to adjust prices accordingly.

Retailers, meanwhile, say they may have to absorb the higher costs to keep customers happy.

Vegetable and fish prices shot up before Chinese New Year, and consumers should now prepare for higher instant noodle, cooking oil, and sugar prices in coming weeks.

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