In pics: The diamond-studded Rs 22,000 cake
 

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Angelito Araneta's gold cake
Entrepreneur Angelito Araneta Jr's rabbit-shaped sweet rice cake, locally known as Tikoy, is encrusted with a 24-carat edible gold leaf and diamonds. The gold and diamond encrusted sweet rice cake sells for Rs 22,000 and is one of 13 ordered by rich Chinese customers for the celebration of the lunar new year, the Year of the Rabbit in Chinese calendar.

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Entrepreneur Angelito Araneta Jr., puts a 0.2-carat diamond on a rabbit-shaped sweet rice cake, locally known as Tikoy.

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Entrepreneur Angelito Araneta Jr. wraps a rabbit-shaped sweet rice cake, locally known as Tikoy, with a 24-carat edible gold leaf before encrusting with a 0.2-carat diamond at his home in Manila, Philippines.

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Araneta Jr. said one customer he catered, ordered for a two-diamond gold encrusted rice cake which is priced for Rs 1, 23000, his most expensive so far.

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The gold and diamond-studded 'rabbit' cake.