NTUC FairPrice is now offering a 10% discount on four popular cooking oil products. From 25 May to 1 June 2022, customers are able to enjoy the discount on all FairPrice supermarket retail formats, including FairPrice Online.
FairPrice shared in a press release on 25 May 2022 that prices of edible oil have increased 3 to 25 percent since the beginning of the year, following the war in Ukraine. The prolonged pandemic and ongoing war in Ukraine has resulted in significant increases in the cost of production of edible oil products.
Market conditions also remain volatile despite the recent lifting of the export ban on palm oil from Indonesia, the world’s largest exporter of palm oil.
FairPrice shared that the reason for the discount was to “address concerns on elevated edible oil prices”.
To promote the discount, FairPrice’s Instagram has come up with these punny advertisements, where the oil bottle seemingly completes the sentence, thus “we have a very spec-oil (special) deal for you”.
The four cooking oil products on discount are:
- Knife Brand cooking oil (2L) at S$7.20 (usual price S$8.05)
- Rice Field 100% rice bran cooking oil (2L) at S$8.30 (usual price S$9.25)
- Duck Brand vegetable cooking oil (2L) at S$6.00 (usual price S$6.70)
- Cock Brand pure groundnut oil (2L) at S$13.15 (usual price S$14.65)
Mr Tng Ah Yiam, Chief Procurement Officer of FairPrice Group said: “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.”
Each customer may purchase up to two bottles (regardless of brand) during the promotional period to allow as many customers to benefit from this initiative, while stocks last. The initiative is FairPrice’s latest efforts to benchmark prices for daily essentials in Singapore. Last month, FairPrice had a stint with a special discount for its Pasar fresh eggs because of similar rising egg prices.
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