02 Nov '11, 3am

NTUC FairPrice pledges to freeze rice price - Channel NewsAsia

SINGAPORE: Supermarket chain NTUC FairPrice has pledged to hold the price of its house brand of Thai rice till year-end amid concerns of increased rice prices, following the flooding situation in Thailand. FairPrice said it will also hold the price of its Jasmine Fragrant rice from Vietnam till after the Lunar New Year season next year, in end-February 2012. NTUC FairPrice CEO Seah Kian Peng said: "For the last few months, already, we've been stockpiling our rice. "Right now, we do have a stockpile -- this should see us through at least for the next few months. "What happens a few months from now, I think we'll certainly monitor the situation, but as I've said, we're looking at other countries; we're stockpiling more Vietnamese rice. In fact, we've stockpiled over four months." FairPrice said it has also stockpiled about three months of Thai rice. FairPrice said more consu...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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