Consumers Warned of Imminent Butter and Milk Price Hikes in Fiji
Source: The DairyNews
Consumers in Fiji have been cautioned to brace for imminent increases in butter and milk prices, following the Fijian Competition & Consumer Commission's (FCCC) latest determination. Over the weekend, the retail price of Rewa Butter rose for the second time in just over a month.
Effective Saturday, the price of butter saw a nine percent increase across the board, reflecting the current trends of rising costs in Australia and New Zealand, Fiji’s primary source markets for these products.
"FCCC continues to monitor these developments closely and remains committed to ensuring fair pricing practices in Fiji. We are working to mitigate the impact of these increases on consumers, where possible, while maintaining the supply of these essential items," FCCC stated.
Consumers are advised to remain vigilant and budget accordingly for potential price hikes in butter and powdered milk. FCCC encourages consumers to explore alternative products and brands that may offer better value for money during this period of price volatility.
Butter and powdered milk are essential food items subject to price control under section 44 of the FCCC Act 2010 and the Fijian Competition and Consumer Commission (Price Control) (Food Item Prices) Order 2021.
This recent price adjustment marks the second time in less than two months that FCCC has approved an increase in butter prices. Early last month, FCCC authorized an across-the-board price increase effective June 4, raising the price of butter from $2.80 to $3.21 for 125 grams (up 41 cents), $5.40 to $6.41 for 250 grams (up $1.01), and $10.60 to $12.73 for 500 grams (up $2.13).
The new prices are: $3.51 for 125 grams (up 71 cents from early last month), $7 for 250 grams (up $1.60), and $13.94 for 500 grams (up $3.34 in less than two months).
"These new prices are a result of the price review of Rewa Butter undertaken by FCCC based on submissions received by the importer, following an average increase in the landing cost of bulk raw butter by 10 percent compared to its last assessment last month," FCCC stated.
"FCCC continues to monitor these developments closely and remains committed to ensuring fair pricing practices in Fiji. We are working to mitigate the impact of these increases on consumers, where possible, while maintaining the supply of these essential items," FCCC stated.
Consumers are advised to remain vigilant and budget accordingly for potential price hikes in butter and powdered milk. FCCC encourages consumers to explore alternative products and brands that may offer better value for money during this period of price volatility.
Butter and powdered milk are essential food items subject to price control under section 44 of the FCCC Act 2010 and the Fijian Competition and Consumer Commission (Price Control) (Food Item Prices) Order 2021.
This recent price adjustment marks the second time in less than two months that FCCC has approved an increase in butter prices. Early last month, FCCC authorized an across-the-board price increase effective June 4, raising the price of butter from $2.80 to $3.21 for 125 grams (up 41 cents), $5.40 to $6.41 for 250 grams (up $1.01), and $10.60 to $12.73 for 500 grams (up $2.13).
The new prices are: $3.51 for 125 grams (up 71 cents from early last month), $7 for 250 grams (up $1.60), and $13.94 for 500 grams (up $3.34 in less than two months).
"These new prices are a result of the price review of Rewa Butter undertaken by FCCC based on submissions received by the importer, following an average increase in the landing cost of bulk raw butter by 10 percent compared to its last assessment last month," FCCC stated.
