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SINGAPORE: Senior Minister of State for Trade and Industry S Iswaran on Thursday said that Singapore has an ample supply of rice, and urged the public to brace itself for further possible price increases.
Recent price hikes and restrictions imposed by rice-exporting countries have caused some concerns among Singaporeans.
According to NTUC FairPrice, sales of rice have risen 30 per cent at all its outlets since 1 April. It added that it is constantly replenishing stocks at outlets where the demand is high.
However, further price hikes can be expected.
Mr Iswaran said: "The price is going up. It's a global phenomenon and as a small importing country, Singapore, really we have to accept there's going to be higher prices. And we're not going to control the price because that would harm our importers and that would (further) affect our supply of rice."
For low-income Singaporeans, who will feel the pinch the most if prices go up further, the senior minister of state said assistance is available.
He said: "We already have the growth dividends and the GST offset credits that are coming on stream - growth dividends in April and October, the second instalment of the GST offset credits in July this year.
"So with these, most should be able to manage and there will be more targeted help for those who need it through our CDCs (Community Development Councils) and ComCare schemes."
NTUC FairPrice said that in order to stabilise prices and the supply of rice, it needs to have a diversification of sources.
NTUC FairPrice's director of integrated purchasing, Tng Ah Yiam, said: "It's important that our shoppers should buy according to what they need, and I think it's not advisable to actually... keep rice for too long a period. Normally (it is alright to keep) for two to three months, but not anything longer than that."
Currently, Singapore has enough rice in its reserves to last about two to three months. For every kilogramme sold, two kilogrammes are stored in the national stockpile. - CNA/ac
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