The price of Rewa Butter in Fiji has risen substantially, reflecting an increase in global supply costs, as confirmed by the Fijian Competition and Consumer Commission (FCCC). The adjustments affect all pack sizes, with a 125g pack now priced at $4, up from $3.51, while the 250g pack has risen from $7 to $7.94. Similarly, the 500g pack has increased from $13.94 to $15.93, marking price hikes of approximately 13 to 14 percent.
The commission highlighted that this price surge is linked to a 16 percent rise in the landing cost of bulk raw butter. This increase is primarily due to heightened international demand, especially from China, which saw an 18 percent year-on-year growth in dairy imports late last year. Additionally, adverse weather conditions in New Zealand have reduced milk production, further straining global supply chains and contributing to rising prices.
The FCCC cautioned consumers that butter prices might continue to fluctuate due to ongoing instability in global supply, a sentiment echoed in previous reports regarding the interconnectedness of local and international dairy markets. Since 2021, raw bulk butter prices have shown an upward trend, and the last local price adjustment occurred in July 2024.
To protect consumers, the FCCC has pledged to monitor the retail market closely to ensure compliance with regulated prices for essential goods and to conduct regular inspections. With the ongoing dynamics in the dairy sector, it remains crucial for consumers to adapt their purchasing habits and to consider alternative products while budgeting effectively.
The FCCC’s proactive approach to market oversight serves as a hopeful measure during these challenging economic times, promising to prioritize consumer welfare despite the rising costs they face.
Leave a comment