SINGAPORE, 8 May 2017 – NTUC FairPrice (FairPrice) announces its support for the Government’s call today to address rising prices of infant formula.
Mr Seah Kian Peng, CEO, NTUC FairPrice said, “FairPrice shares the concerns among parents today on the cost of infant milk powder, which is a daily nutritional staple for growth and development of infants and toddlers. We agree that more public education and understanding on the benefits of infant milk formula will help parents make more informed choices, and a review of import requirements will help us to provide better value options for our customers.”
FairPrice provides over 150 varieties of infant formula from different brands, formulations and pack sizes ranging from $30 to slightly over $100 per tin ($22/kg to $97/kg) to provide a wide range of choices for consumers. Beyond this, FairPrice also regularly holds promotions for infant formula, loyalty programmes, LinkPoints and membership rebates to help parents stretch their dollar further.
Last year, FairPrice also specially brought in a high quality range of infant formula, Aptamil, a leading brand in Europe, and priced it 20 percent lower than comparable brands for all union members.
To reach out to needy families with children who are aged between 6 months and 6 years, FairPrice Foundation, the charity arm of FairPrice, launched the NTUC FairPrice Foundation-CDC Milk Fund – worth $1.5 million – in February this year in partnership with all five Community Development Councils (CDCs). The amount disbursed to each family is dependent on the ages and number of children in the family, where each child will receive either $100 or $200 worth in vouchers to purchase any brand of infant formula from all FairPrice supermarkets island-wide. More than 7,500 children from needy families across Singapore will benefit from the scheme this year.
Mr Seah added, “These various efforts are all part of a strategic initiative to ensure that the different segments of the community continue to have access to affordable essentials. The community can be assured that FairPrice is continually looking at ways to ensure daily essentials such as infant formula remains available and affordably priced for all.”
As a social enterprise, FairPrice is committed to moderating the cost of living and continues to put in place various initiatives to help the community stretch their dollar.