The Fijian Competition and Consumer Commission (FCCC) has announced a noteworthy 15 percent decrease in the ex-factory wholesale prices of Ghee products, designed to help ease the financial strain on Fijian households. Acting CEO Pranil Singh highlighted the importance of retailers and wholesalers adjusting their prices to reflect these new rates, warning that non-compliance will result in stringent consequences.
This decision follows a concerning surge in Ghee prices, which recently jumped from an average of $24.02 to $31.24, raising alarms among consumers, particularly as the festive season approaches when demand is notably heightened. Seema Shandil, Chief Executive of the Consumer Council of Fiji, has voiced serious concerns regarding the impact of such price hikes.
The anticipated effect of this price adjustment is a reduction in the retail cost of a 750ml bottle of Ghee, previously ranging between $27 to $31, thus providing welcome relief to consumers. To further uphold fair pricing practices, the FCCC will be closely monitoring the market and encourages consumers to report any unfair pricing they may encounter.
This regulatory action is a proactive step towards ensuring consumer protection amid rising prices, demonstrating a commitment to supporting families facing financial hardships. With hope, these price reductions will help alleviate some of the economic pressures on households in Fiji during this crucial time of the year.
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