FCCC proposes to Govt to enforce price controls on ghee before taking legal action against traders

FCCC proposes to Govt to enforce price controls on ghee before taking legal action against traders

By Sheral Roshan
Wednesday 02/10/2024
FCCC Chief Executive Officer Joel Abraham

The Fijian Competition and Consumer Commission has sent a proposal to the Minister for Trade, Cooperatives, Small and Medium Enterprises and Communications, Manoa Kamikamica, to enforce price control on ghee and they are awaiting approval before pursuing legal action regarding the unjustified significant increase in ghee prices.

Some major supermarkets in the Suva-Nausori corridor allegedly increased the price of a 750ml bottle of ghee from an average of $24.02 in August to $31.24.

FCCC Chief Executive Officer Joel Abraham says that ghee will be the first item in the grocery sector market study to come under price regulation.

Abraham says the retail prices of ghee have drastically increased from July 2024 to September 2024.

He says they have been able to identify the sources of this increase and the assessment revealed that the combined markup on ghee is about 53 percent from factory to retail.

One of their short-term recommendations is to place ghee under price control immediately.

Abraham adds they will ensure retailers comply with the regulatory framework, a monitoring mechanism will be developed and implemented by the FCCC.

He adds they will ensure that any controls and reductions at the wholesale level are reflected at the retail level.

He acknowledged the retailers who have reduced ghee prices in the past week, noting that some are selling at cost with a markup price of about 2 percent or even below cost.

FEATURE NEWS
More help on the way now for early warning systems thanks to the IOM
From using the traditional means like a conch shell as an early warning sign for villages across Fiji for centuries, more help is on the way now for e...
15 minutes ago
LATEST NEWS
Toorak Jame Masjid members serve sweets to people along Toorak Road
As the Muslim community celebrates Eid today, the Toorak Jame Mosque generously distributed 1,000 cups of sweets to people this morning. People ...
1 hour ago

Gibson appointed as new EFL CEO
Fatiaki Gibson is the new Chief Executive Officer for Energy Fiji Limited. EFL Board Chairman Rokoseru Nabalarua says Gibson previously served as ...
3 hours ago

Former TLTB employee sentenced to 2 years for corruption
Former i-Taukei Land Trust Board Senior Estate Officer, Inosi Tauvoli has been sentenced to two years for corruption with a non-parole period of 20 ...
3 hours ago

Eid reminds us of the importance of family, friends and community – PM Rabuka
Eid reminds us of the importance of family, friends and community — as well as the vital role of faith in inspiring us to go above and beyond to ...
4 hours ago

Less than 10 people turn up for consultations on 3 Bills
Less than 10 people turned up for the public consultation on the Code of Conduct Bill, Access to Information Bill and Accountability and Transparency ...
4 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Reverend Tugi on fijivillage Straight Talk With Vijay Narayan
Watch the General Secretary of Fiji Evangelical Fellowship, Reverend Simione Tugi on fijivillage Straight Talk With Vijay ...
33 days ago

fijivillage Straight Talk with Vijay Narayan and William Parkinson
Chairman of Communications Fiji Limited, parent company of FM96, LegendFM, VitiFM, Navtarang, Radio Sargam, fijivillage and PNGFM, William Parkinson ...
34 days ago

fijivillage Straight Talk with Vijay Narayan and Adi Tulia Nacola
The candid interview focuses on Nacola, coming from a chiefly family and being a daughter of a Minister who was ousted in the 1987 military coup, her ...
34 days ago

TOP