To help consumers cope with the increase in edible oil prices, FairPrice is offering a 10 per cent discount for four cooking oil brands from now till June 1, 2022. They are:
- Knife Brand cooking oil (2L) at S$7.20 (retailing at S$8.05)
- Rice Field 100% rice bran cooking oil (2L) at S$8.30 (retailing at S$9.25)
- Duck Brand vegetable cooking oil (2L) S$6.00 (retailing at S$6.70)
- Cock Brand pure groundnut oil (2L) S$13.15 (retailing at S$14.65)
“Each customer may purchase up to 2 bottles (regardless of brand) during the promotional period to allow as many households as possible to benefit from this initiative,” it said.
Prices on the rise
The supermarket chain noted that prices of edible oils have increased 3 to 25 per cent – depending on brand, pack size, type of oil and country of origin – since the beginning of the year.
The Ukraine war has exacerbated problems, disrupting the global economy and supply chains on an unprecedented scale. The ripple effects include increase in cost of freight, wages, energy, raw materials and manpower for the production of edible oil products.
Mr Tng Ah Yiam, Chief Procurement Officer, FairPrice Group said, “Edible oil prices have been on the rise and market conditions remain volatile. To provide assurance and bring some sense of normalcy back amidst the current uncertain economic situation, FairPrice is committed to ensuring daily essentials remain available and affordable. We strive to hold prices for as long as we can, and in this case, reduce it further where possible.”
This is also not the first time that FairPrice adjusted prices downwards.
Last month, it took the lead to offer a special discount for its fresh eggs in view of rising egg prices. Such a move made a positive impact, with other supermarkets following suit, benefiting consumers.
Cover photo credit: Fairprice
