Yuan appreciation has limited impact on local restaurant prices: insider

The yuan’s recent appreciation is adding another cost consideration for Macau’s food and beverage industry, although the immediate impact on menu prices is expected to remain limited, according to an industry representative. The yuan has recently traded between 6.71 and 6.74 against the U.S. dollar, reaching its strongest level in about three and a half years. The appreciation could increase procurement costs for Macau businesses, with around 60% of the restaurant industry’s food ingredients sourced from mainland China. Ieong Weng Seng, president of the Macau Food & Beverage Industry Development Association, said the impact of exchange-rate…