New, cheaper formula milk at FairPrice
Singapore's biggest supermarket chain launched FairPrice Gold infant milk formula yesterday, the fourth new arrival on the market since controversy over the high prices of formula milk rose in March.
It is the first house brand formula milk in Singapore. Sourced from Australia, it is available in three variants, costing between $27 and $29 for a 900g tin.
The Straits Times had reported in March that the average price of a 900g tin of infant milk powder in Singapore soared 120 per cent over the last decade to $56.06, making it among the most expensive in the world.
The Government has since set up a task force to look into tightening regulations on labelling and advertising, facilitating imports of more formula milk options, strengthening public education and encouraging good practices in hospitals.
FairPrice chief executive Seah Kian Peng said of the house brand it launched: "In terms of quality, it is very comparable to all the top brands. But at the same time, because of who we are, we want to make it very affordable."
An estimated 95 per cent of formula milk sales in 2015 comprised sales of "premium" and speciality milk. The authorities have urged parents against using price as a proxy for quality.
Yesterday's launch follows three other recent entrants whose prices range from Sheng Siong's $25.50 for a 900g tin to Made-in-Singapore Einmilk at under $40 for an 800g tin.
Mr Seah said FairPrice has seen a 25 per cent increase in sales of Australia's Own formula milk, another product it launched in June. - THE STRAITS TIMES
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