… and this is not a lancerlord post (for readers who are familiar with ping.sg). =P If you don’t know why I said so, you should take a look here.

Looking back at the chain of events that happened before the price hike, I felt that it is all a consequence of Singaporean’s mentality – that they either do not believe the government (which I have something to say about too), or that they are just carrying their kiasu, kiasi (and now, complacent) mentality. I also feel that the government has given too much attention to the issue of rice supply recently and hence bringing about more attention to the situation. After all, some Singaporeans have the mentality that since the government is talking about it, something will go wrong very soon.

Firstly. I feel that Singaporeans are not cohesive enough. I’m sure the more educated ones (which is beginning to be a huge majority) will understand the concept of supply and demand. By participating in reducing supply – that is, buying more rice than needed, buyers essentially create a void which results in frantic buys by more people. Most of them will probably know that evidently, the cost of rice will probably increase should they continue this frenzy. However, the common mentality is that they’d have had sufficient rice by then, so it’s none of their business.

Secondly, I feel that the Singapore government has placed too much attention this matter, resulting in people having the government-is-hiding-something mentality. If the people have faith in the government they voted for, then they should be at no time doubtful of their own choice. Since they voted in their government, they should have 101% faith in them – and not think that the government is hiding something from them. Look at the recent Mas Selamat case, hadn’t the government been honest that the guards had ben negligent? =)

Thirdly, I feel that insufficient was done to convey the message to the older generation – who have been through war and knows what it feels like to be without a staple food. They’d then get their children to get more rice, get more rice themselves and get their children to lug those back, or make multiple trips to the supermarket to get rice. It doesn’t help if headlines are being splashed all over the papers reassuring that there’s sufficient rice supply (which may no longer be true given the recent frantic buys). So I say, go forth and do your part and tell ll your families that there is really enough rice for everyone! =)

… and while you are doing that, I’m running down to NTUC to get 5 big packets of rice just in case the price goes up again. =P

SINGAPORE’S biggest supermarket chain, NTUC FairPrice, on Friday hiked the price of one of its in-house brands of premium rice.

Its Gold Thai Hom Mali Rice – an AAA grade variety – now costs $10.20 for a 5kg bag and $19.90 for a 10kg one, an increase of 90 cents and $1.60, respectively.

The rise iks NTUC’s second in as many weeks: It hiked prices of three other in-house brands of rice by between 60 cents and $1.65 last week.

Other supermarket chains contacted by The Straits Times, including Cold Storage, Giant and Sheng Siong, said they have no immediate plans to increase their prices again, since they had already raised their prices since February.

When asked if further increases were on the horizon, FairPrice said it could not be sure, as prices would fluctuate according to market factors of supply and demand.

The increases in Singapore are a result of skyrocketing prices for the grain worldwide: Prices on the global market have jumped 50 per cent over the past two months.

On Friday, NTUC’s director of integrated purchasing, Mr Tng Ah Yiam, said it was trying to soften the impact on consumers by staggering its increases.

He added that the chain would moderate its price hikes, and keep its objective of ensuring that ‘we can maintain a price gap of 10 to 15 per cent compared to any other brand’.

Article obtained from straitstimes.com on 5th April 2008



Reader's Comments

  1. a_x | April 5th, 2008 at 3:42 pm

    …coz lancerlord’s posts start with ‘of’, not ‘Of’. =P

    Yeah, let’s invest in rice!! (Though I wonder what’s the expiry date. Heh)

  2. singwalker | April 5th, 2008 at 6:20 pm

    Maybe we should switch to noodles.

  3. Aaron | April 5th, 2008 at 10:02 pm

    This is a very bad case of kiasu-ism, and how it directly affects the economy.

    Most of us understand how supply and demand works, but we can’t stop people from hoarding rice, nor can we stop people from hoarding up their money in a financial crisis.

    This is a direct result of how kiasu-ism serves to act against us.

    But you must admit, those who has hoarded enough rice do not have to pay an extra $1.60 for a 10kg pack of rice!

    I hope they think they’ve saved enough. Hmmph.

  4. lancerlord | April 6th, 2008 at 9:55 pm

    maybe i should write a post titled “of why my post starts with of” or “of a_x is stalking me” 🙂

  5. Daily SG: 7 Apr 2008 « The Singapore Daily | April 7th, 2008 at 11:30 am

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