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FairPrice extends support for local SMEs and introduces new pilot initiative for local farms

FairPrice extends support for local SMEs and introduces new pilot initiative for local farms

  • Commits S$2.1m to SME Suppliers Support & Development Programme (SSDP)
  • In partnership with the Singapore Food Agency (SFA), FairPrice pilots the SFA Retail Incubation Initiative for selected local farms to retail their produce at its supermarkets
  • FairPrice continues to promote locally made products with the return of its 11th ‘Made in Singapore’ Fair

SINGAPORE, 28 OCTOBER 2022 – NTUC FairPrice (FairPrice) today renews its commitment to support local small and medium enterprise (SME) partners for another year through the SME Suppliers Support and Development Programme (SSDP), which is estimated to cost $2.1 million. This announcement was made at the launch of FairPrice’s 11th ‘Made in Singapore’ Fair, an annual initiative that raises awareness for local producers and locally produced items. Held at FairPrice at Our Tampines Hub, the launch was graced by Guest-of-Honour, Minister for Sustainability and the Environment, Ms Grace Fu.

Ms Elaine Heng, Chief Executive Officer, Retail Business, FairPrice Group said, “SMEs continue to face challenges brought about by the current uncertain business climate, rising inflation and the evolving Covid-19 pandemic. FairPrice’s initiatives such as the SSDP seek to help SMEs cope with rising business costs and enhance their business capabilities. Complementing Singapore’s 30 by 30 food goal, we will continue to build on initiatives to support local SMEs as we enhance our food security and resilience. We encourage our customers to join us in supporting local, and building a sustainable food future together.”

Introduced in 2009, the SSDP aims to help the co-operative’s SME partners overcome restructuring challenges and tide through the global financial crisis. The programme was brought back in 2012 during the economic slowdown and has since been extended annually to benefit more than 500 SMEs. To date, FairPrice has invested over $15 million on this initiative.

Participating partners of the SSDP enjoy various benefits designed to boost their business capabilities and growth. This includes accelerated payment terms to ease cash flow challenges, discounts for processing and listing fees for new products and special consideration for inclusion in the FairPrice housebrand programme.

Singapore Food Agency Retail Incubation Initiative

In seeking out new ways to support local SMEs, FairPrice has come on board Singapore Food Agency (SFA)’s SFA Retail Incubation Initiative. In line with Singapore’s 30 by 30 goal, this initiative provides selected local farms the opportunity to gain hands-on experience in selling produce in supermarkets, which will help these businesses tackle any challenges they may face when entering the retail market. From 1 October to 30 November 2022, customers can purchase these locally farmed products at nine selected FairPrice stores. A review will be held in December after the pilot programme for the farms to take learnings.

Made in Singapore Fair

FairPrice’s ‘Made in Singapore’ Fair also returns today for its 11th edition to support local food manufacturing companies. Held annually, this year’s fair will feature over 40 locally made products, including daily groceries, fresh and frozen products, household necessities, and FairPrice’s housebrand range.

The fair will run till 9 November at all FairPrice stores and FairPrice Online, offering savings of up to 46 per cent off their usual price.

*Annex A – SME Suppliers Support & Development Programme (SSDP)

*Annex B – SFA Retail Incubation Initiative 

*Annex C – List of featured products at ‘Made in Singapore’ Fair 2022

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Annex A

SME Suppliers Support & Development Programme (SSDP)

FairPrice introduced SSDP in 2009 for the co-operative’s SME partners, which has since helped them overcome restructuring challenges and tide through the global financial crisis to rediscover their drive for growth and expansion. The SSDP was brought back in 2012 during the economic slowdown and has since been extended annually to benefit more than 500 SMEs since 2012.  

More companies can apply for various assistance types under SSDP[1], which include:

  • Easing cash flow pressures for suppliers with payment terms of 60 days and above, by accelerating payment with a shortened payment term by 30 days
  • Reducing their business cost and widening their opportunities for business growth with discounts of 50 per cent on both processing and listing fees for their new products
  • Supporting their sales growth with marketing support through regular monthly offers, in-store collateral and product fairs
  • Supporting their company development by giving them special consideration for packing of FairPrice housebrand products
  • Sharing industry insights via knowledge sharing seminars
  • 50% discount on sales reports
  • Leveraging on FairPrice’s Online Marketplace platform to promote or sell their products

[1] Company’s annual turnover increased from $5 million to $8 million since 2020 – to allow more suppliers to be eligible

Annex B

Singapore Food Agency Retail Incubation Initiative

FairPrice has collaborated with the Singapore Food Agency to launch the SFA Retail Incubation Initiative to support Singapore’s ’30 by 30’ goal to enhance the resilience of local food supply. This initiative aims to prepare selected local farms to retail their vegetable produce, which includes Asian leafy greens and potted vegetables and herbs, at nine FairPrice stores. The selected farms will gain the opportunity to achieve practical hands-on experience in selling produce in supermarkets and catering to the demand and needs of consumers. The pilot programme will comprise four local vegetable farms.

Annex C

Featured Products at Made in Singapore Fair

  1. ALCHEMY FIBRE FOR RICE 250G
  2. ILITE TRIM SWEETENER 100S 1G
  3. ANEW P/BASED LUNCHEON MEAT Assorted 340G
  4. KCT SUPR.SOY.SAUCE-DARK / LIGHT 640ML
  5. PRIMATASTE ASSORTED PASTE 80G
  6. PRIMATASTE BEST SINGAPORE FAVOURITES MEAL SAUCE KIT (BSF) ASSORTED
  7. PRIMATASTE ASSORTED SAUCE 80G
  8. SING LONG ASSORTED SAUCE 120G
  9. SING LONG HAI-CHK RICE MIX 90G
  10. TAI HUA ASSORTED SAUCE 305ML
  11. FAIRPRICE LESS SUGR XO PR KAYA 410G
  12. HOLLYFARMS DESSERT ASSORTED 120G
  13. MY NOODLE ASSORTED NOODLES
  14. UNISOY NUTRI BLK S/MILK 12S 32G
  15. GOLD ROAST KOPI O REDUCE SUG20S 17G
  16. JJ HERB TEA 6S ASSORTED 300ML
  17. SCS PINEAPPLE TART LARGE 435G
  18. FRUIT TREE ASSORTED JUICE
  19. VITAGEN CULTURED MILK 5S 125ML
  20. DODO CHICKEN CHEESE MB 500G
  21. FAIRPRICEG CUTTLEFISH BALL 780G
  22. FASSLER F.SOUP-CRM OF MUSHRM 500G
  23. HANDINHAND HANDMADE XIAOLONGBAO 400G
  24. THEICC GELATO / ICE CREAM ASSORTED 473ML
  25. CROCO FARM CROCODILE FLANK MEAT 250G
  26. FISHFARMER MULLET FILLET ASSORTED
  27. FISHFARMER TFF BASS FILET ASSORTED
  28. PASAR F/SEAWATER SEABASS
  29. PASAR FARMER MILK FISH 1KG
  30. PASAR FARMER PEARL GROUPER
  31. CHEW’S CAGE FREE FRS EGGS6S 330G
  32. CHEW’S F/EG OG SELENIUM 10S 55G
  33. CHEW’S F/EGG OM6 10S 55G
  34. DOUBLE JOY ASSORTED 230G
  35. UNICURD TOFU ASSORTED 300G
  36. SAKURA BABY NAI BAI 200G
  37. SAKURA JAPANESE BOK CHOY 150G
  38. SAKURA BRAZIL SPINACH 200G
  39. SUSTENIR ALMIGHTY ARUGULA 100G
  40. SUSTENIR GREENS ASSORTED 100G
  41. SUSTENIR SUPER KALE 120G
  42. ORASYL POVIDONE IODINE MWSH 500ML
  43. UIC N/PLUS L.DET ASSORTED 1.5L
  44. P&L KY GO MUSHROOM KIT 1S

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