China’s mooncake market is warming again this year following a cold spell under the central government’s ban on gift giving among public officials two years ago.
Sun Peng, deputy general manager of Dao Xiang Cun Food, the largest pastry maker in Beijing, finally felt relieved after his company distributed most of its mooncakes made this year to small wholesalers and retailers a week ahead of Sunday’s Mid-Autumn Festival.
“People are buying mooncakes again,” said Sun. “We expect sales this year to grow 15 to 20 per cent compared to last year.”
READ MORE: Everything Hongkongers need to know about Mid-Autumn Festival
Sales of mooncakes, the traditional treat for the festival, were hit severely two years ago as the central government banned officials giving or receiving high-end mooncakes, which had become a form of bribe considering their super-high prices.
The government warning resulted in a 30 per cent drop in mooncake sales on the mainland during the past two years, the industry estimated.
The market recovery this year appears to be driven by family and corporate demand for low- to mid-priced mooncakes.
At a Wal-Mart supermarket in Beijing, different brands of boxed mooncakes were piled at the most visible location near the store entrance. Most were selling for between 100 and 200 yuan (HK$120 to HK$240), compared to average prices of at least twice that two years ago. A sales person said the best seller was a four-cake box flavoured with the traditional lotus seed paste and egg yolk, which sells for 99 yuan.
