The Fijian Competition and Consumer Commission (FCCC) has announced a significant 15% reduction in the regulated ex-factory wholesale prices of ghee products, a move aimed at easing financial pressures on Fijian households, particularly with the festive season approaching. Traditionally, demand for ghee surges during this time due to its integral role in various cultural and religious ceremonies.
Previously, the retail prices for a 750ml bottle of ghee were reported to be between $27 and $31. This new pricing adjustment is expected to lead to noticeable reductions in retail costs, benefiting consumers across the nation. Acting Chief Executive Pranil Singh has emphasized the necessity for compliance from retailers and wholesalers, indicating that they must adjust their prices in line with the FCCC’s newly established rates. He also pledged that the FCCC will closely monitor the market to thwart any potential exploitation of consumers through unjustified price hikes.
Leading up to this announcement, there had been growing concern among consumers. Recent surveys highlighted a worrying increase in ghee prices from an average of $24.02 to $31.24 in a short timeframe, prompting criticism from consumer advocates. Seema Shandil, Chief Executive of the Consumer Council of Fiji, pointed out that such steep price increases create undue hardship for families, accentuating the urgency of the situation during the run-up to the festive season.
This recent price cut is seen as a proactive measure in consumer protection. The FCCC is encouraging consumers to report any unfair pricing practices to safeguard that the benefits of these price reductions effectively reach households, particularly during this financially challenging period. As the FCCC strives to maintain fair market practices, this initiative brings a sense of hope that many Fijians may experience relief during the upcoming festive season.
Leave a comment