With the chicken export ban now in effect, fresh chicken has become a highly sought-after commodity. And if our Econs 101 course has taught us anything, it’s that when supply decreases, price increases.
However, Singaporeans were still shocked when they saw a picture circulating on social media showing a S$72.27 price label for 3kg of chicken.
FairPrice has since clarified that the price is for two chickens and that the price label is based on the product’s weighted price.
While the numbers add up, Singaporeans were quick to point out that it’s still costly.
The picture of the price label in question indicates that 3.212kg of “SB Whole Chicken” from Malaysia costs S$72.27.
The price label also states that the ingredient is priced at S$22.50 per kilogram.
Explaining the pricing mechanism, NTUC FairPrice says the product was actually “organic kampung chicken”.
They further clarified that the product was sold by one of NTUC FairPrice’s concessionaire counters run by Swiss Butchery and that it actually comprised two whole chickens packed together, which explains the weight and corresponding price.
The supermarket chain ended the Facebook post by apologising for the misunderstanding that the photo had caused.
While netizens appreciated the clarification, many felt that NTUC FairPrice might’ve missed the point — they were apparently just taken aback by the unusually high prices.
One netizen brought this point across bluntly, and with so many reactions to the comment, it’s clear that others are in agreement.
Source: NTUC FairPrice on Facebook
Another Facebook user shared that she’s considering eating more fish and vegetables for the time being, presumably due to the chicken export ban.
Source: NTUC FairPrice on Facebook
Not everyone finds the prices that exorbitant though as this netizen shares their assumptions on how the prices came to be.
Regardless of how the prices are derived, the consensus on the ground appears to be one of concern more than surprise.
Prices on labels are rarely mistakenly printed.
Even though it may be on the higher side for most, there will be someone out there who can justify parting with that much cash for their chicken fix.
Although the ban has no end in sight, we are sure that stocks will arrive one way or another.
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from NTUC FairPrice on Facebook and D-Logic Refigeration.
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