Rise in Prices of Popular Food Items in View of Lunar New Year

Mr Melvin Yong Yik Chye asked Minister for Sustainability and the Environment in view of the upcoming Lunar New Year festive period (a) whether the prices of popular food items, such as seafood and poultry, are expected to rise significantly; and (b) whether more public education will be done to encourage consumers to consider purchasing food items imported from non-traditional source countries.

Like the cost of many other items, food prices are determined by supply and demand conditions. In recent months, factors such as rising energy and production costs, supply disruptions caused by the Russia-Ukraine conflict, COVID-19 pandemic and policies by foreign governments and varying weather conditions have caused inflationary pressures. In addition, higher demand for popular food items such as specific types of seafood and poultry during festive periods is expected to contribute to higher prices as seen in past years.

To encourage consumers to consider different food types and forms, the Singapore Food Agency (SFA) has been continually putting out public communications and facilitating the promotion of food from alternative sources. SFA will continue to regularly remind consumers and the industry to be flexible and adaptable to different food types and forms (fresh/chilled, frozen, processed).