FIJI REGULATORS LOWER PRICE OF FOODS

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Average 13 percent reductions

By Maciu Bolaitamana SUVA, Fiji (Fijilive, Nov.2, 2010) – Consumers in Fiji have a reason to smile after the Commerce Commission announced reductions in the prices of food items as the new Price Control Order (PCO)comes into effect this Saturday November 6th.

And while consumers will rejoice in the reductions, supermarkets and shop owners around the country have also been warned to adhere with the Price Control Order or face serious ramifications.

Commission chairman Doctor Mahendra Reddy yesterday announced an average price reduction of 13 percent for potatoes, onions, tinned fish, sardines, split peas and corned beef and mutton.

An average of 12 percent price reduction in the price of garlic, edible oil, powdered milk and liquid milk.

Dr Reddy also announced reduction of 16 percent in the price of imported meats such as lamb chops, lamb necks and shanks.

Price for rice has will drop by 14 percent, 10 percent reduction for margarine and imported butter, 20 percent reduction in the price of noodles and 19 percent reduction for salt.

These prices will come into effect from this Saturday.

Dr Reddy said the commission’s officers will be on the ground to ensure that the new prices are imposed by the retailers and traders from this weekend.

He also warned that there are heavy penalties in place for retailers and traders who breach the Price Control Order.

Dr Reddy said shop owners could face up to FJ$20,000 [US$10,800] in fines if they refuse to charge consumers the new reduced price on basic food items.

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