As Chinese New Year approaches, Singaporeans are seeing a mix of price adjustments and cost-saving initiatives on festive essentials. While some bak kwa sellers are exploring new production methods to maintain prices, FairPrice Group is helping customers by freezing prices on popular festive items.
Bak Kwa Prices and Innovations
Bak kwa, a beloved treat during the festive season, is witnessing slight price fluctuations. Many retailers, like Lim Chee Guan and Century Bakkwa, have kept their prices stable compared to the previous year. However, Bee Cheng Hiang has seen a minor increase.
- Fragrance Bak Kwa has successfully reduced prices by adopting solar power and pre-ordering ingredients.
- Century Bakkwa has noted an increase in ingredient costs, particularly for premium pork, which now sits at S$45 per kilogram.
- The introduction of a sugar-free bak kwa option aims to cater to health-conscious consumers.
FairPrice Group’s Price Freeze
Starting 9 January 2024, FairPrice Group will enforce a price freeze on 15 essential food items, including Chinese pomfret and pork spare ribs, running through the festive season until 12 February 2024. This move aims to keep festive food affordable.
- A few items coming under this freeze are:
- Red grouper — priced at approximately S$33.80, significantly less than wet market rates.
- Discounts on vegetables will also be available, with enoki mushrooms at S$0.45 per pack.
These initiatives come as a response to price hikes of 20 to 30 per cent for seafood and pork compared to prices at FairPrice.
Community Initiatives and Discounts
FairPrice Group is further supporting Singaporeans with additional discounts for blue and orange Chas cardholders, offering 6% off on Thursdays and Fridays. Shoppers spending S$60 or more of their CDC vouchers will also receive S$6 return vouchers.
As we embrace the festive spirit, both bak kwa sellers and grocery providers are stepping up to ensure a joyful and affordable celebration for all.