10% discount on 4 cooking oil products at FairPrice, Latest Shopping News - The New Paper

10% discount on 4 cooking oil products at FairPrice

Supermarket chain FairPrice will offer a 10 per cent discount on four popular cooking oil products for a week from today (May 25) to June 1, to address concerns over increased edible oil prices due to the protracted Covid-19 pandemic and the war in Ukraine.

The four cooking oil products are:

  • Knife brand cooking oil (2 litres) at $7.20, down from $8.05
  • Rice Field 100% rice bran cooking oil (2 litres) at $8.30, down from $9.25
  • Duck brand vegetable cooking oil (2 litres) at $6, down from $6.70
  • Cock brand pure groundnut oil (2 litres) at $13.15, down from $14.65

Each customer can buy up to two bottles, regardless of brand, during the promotional period to allow as many households as possible to benefit from this initiative, said FairPrice.

The offer will be available across all its supermarket retail formats, including FairPrice Online.

Edible oil prices have increased between 3 per cent and 25 per cent - depending on the brand, pack size, type of oil and country of origin - since the beginning of the year, it added.

The pandemic has caused food prices to rise around the world and the situation has been exacerbated by the war in Ukraine.

Russia and Ukraine are major global exporters of grains and edible oils, supplying almost 75 per cent of the world's sunflower oil.

FairPrice said the protracted pandemic and the war in Ukraine have disrupted the global economy and supply chains on an unprecedented scale.

"This has resulted in significant increases in the cost of freight, wages, energy, raw materials and manpower for the production of edible oil products," it said.

While the recent lifting of the export ban on palm oil from Indonesia, the world's largest exporter of palm oil, is expected to give some respite, market conditions continue to remain volatile due to the pandemic and war, it added.

FairPrice Group chief procurement officer Tng Ah Yiam said: "To provide assurance and bring some sense of normality back amid 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 them further where possible."

FairPrice said it carries edible oil products from a diverse range of sources, including Malaysia, Thailand, Italy, Spain and within Singapore.