STEPS TO REDUCE PRICES OF RICE AND SUGAR

Mr Seah Peng Chuan asked the Minister for Commerce and Industry whether he has taken any steps to ensure reductions in the prices of rice and sugar since the reopening of the Suez Canal to shipping.

Mr J. M. Jumabhoy: Sir, perhaps the hon. Member has failed to realise that our imports of rice do not pass through the Suez Canal, and only a minor portion of our sugar imports pass through the Suez Canal. The closing or reopening of the Suez Canal has therefore had only a negligible direct effect on the prices of rice and sugar. The prices of these commodities in Singapore are governed by world supply and demand. In these circumstances, therefore, no action is necessary.

In further amplification of my reply, Sir, I may perhaps with profit refer the hon. Member to a news item appearing in today's Straits Times under the heading, "Bangkok Clamp May Send Rice Price Up". It states in the news item that there is a possibility of export restrictions in Bangkok which might cause prices to rise in Singapore and the Federation.

Mr Seah Peng Chuan: Mr Speaker, Sir, does the Hon. Minister not realise that rice and sugar are essential commodities and that this is important to the public and can he be kind enough to see what he can possibly do to help the public to get the prices down?

Mr J. M. Jumabhoy: Not only the Minister but every other thinking man in Singapore realises that rice and sugar are essential commodities, and if the hon. Member has any bright ideas he may perhaps care to discuss with me.