The agreement includes a six-month period which grants FairPrice full exclusivity to promote and sell Kaohsiung agricultural products
SINGAPORE, 26 February 2019 – NTUC FairPrice (FairPrice), and the Kaohsiung City Government today signed a joint partnership agreement to promote bilateral trade and exchange. This will see FairPrice purchasing Kaohsiung agricultural products annually from 1 March 2019, for the next three years. The first six months of the agreement will grant FairPrice full exclusivity on the promotion and sale of Kaohsiung’s agricultural products in Singapore.
Mr Seah Kian Peng, CEO, NTUC FairPrice, said of the agreement: “FairPrice’s social mission to moderate the cost of living for Singaporeans remains our core purpose and we uphold this mandate by diversifying our sources of food. Through this agreement, FairPrice is able to tap on an additional food source and ensure greater cost savings for customers since we are able to purchase directly from the Kaohsiung City Government. Beyond this, Kaohsiung is well-known for its quality agricultural produce, and we are able to expand our range of products to cater to the evolving taste of increasingly cosmopolitan consumers.”
Produce from Kaohsiung to be retailed at FairPrice include guava, grapes, jujube, broccoli, cabbage and carrots, among others, depending on seasonality. To optimise seasonal availability of the produce, FairPrice will also run two Taiwan Fairs annually that will include various activities and promotions for these products. The first Taiwan Fair following the agreement will take place in March 2019.
Food diversification is one of the strategies FairPrice employs in ensuring that essential items remain affordable, especially when there are sudden supply shocks. Today, FairPrice imports about 50,000 products sourced from over 80 countries around the world.