SINGAPORE: NTUC FairPrice said it will continue to
freeze prices on all nine types of FairPrice housebrand rice from
Thailand and Vietnam until 31 December 2012.
Prices for these FairPrice housebrand rice have been
frozen since November 2011.
FairPrice noted that though the Consumer Price Index
(CPI) eased to 5 per cent in May 2012 compared to 5.4 per cent the
previous month, non-cooked food and prepared meals prices rose by
0.2 per cent and 0.1 per cent respectively.
Managing director for Group Purchasing, Merchandising and
International Trading for NTUC FairPrice, Tng Ah Yiam said: "As
rice is a daily staple for most of our customers, we have decided
to keep rice prices stable so as to help our customers stretch
their dollar as we have done so through the years. It is our social
mission to help moderate the cost of living here and we hope this
will bring some relief to both our members and our
customers."
FairPrice said as one of the major rice importers in Singapore, it
stockpiles more than three months' supply of rice to ensure
reliability of supply and stability of price.
Prices of rice are kept stable due to the policy of stockpiling,
diversified sourcing, forward buying, direct importing, bulk buying
and contract prices with manufacturers.
- CNA/ck
