FairPrice extends price freeze on housebrand rice

SINGAPORE: Supermarket chain NTUC FairPrice has said it will continue to hold prices of all its 10 housebrand Thai and Vietnamese rice till end of March 2013.

The announcement on Thursday came amid talks that rice—exporting nations may raise prices.

There are also threats of natural disasters affecting rice—producing countries.

FairPrice CEO, Seah Kian Peng, said FairPrice was founded with the mission of moderating the cost of living for the community.

As food makes up over 20 per cent of an average household’s expenses, it is important that daily essentials, like rice, are affordably priced.

Prices of all FairPrice housebrand rice from Thailand and Vietnam have been held steady since November 2011.

TODAY newspaper reported that two other supermarket chains will also freeze the prices of their housebrand rice.

Sheng Siong supermarkets will continue to hold prices of its four housebrands until the end of June 2013, said its chief executive officer Lim Hock Chee.

He also pointed out that prices of their housebrand rice have "remained steady for the last two years or more".

The Dairy Farm Singapore group has also announced that its banners, which include Cold Storage, Giant and Shop n Save, will continue to hold prices of all housebrand rice imported from Thailand, Vietnam, India and Pakistan until March 2013.

— CNA/al/jc