FairPrice to hold prices of housebrand Thai and Vietnamese rice till end of March
NTUC FairPrice will continue to hold prices of all its 10 housebrand Thai and Vietnamese rice till end of March next year, amid speculation that rice-exporting nations may raise prices.
Reports have stated that South-east Asia's rice-exporting nations are in talks to create a formal alliance aimed at boosting prices and increasing export revenues.
Mr Seah Kian Peng, FairPrice's chief executive officer, said in a press release on Thursday: "FairPrice was founded with the community in mind by moderating the cost of living. 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.
"As such, FairPrice will continue to extend our price freeze on housebrand rice and we hope this effort will help ease the minds of consumers as we start the New Year together."