People will need to pay more when purchasing normal flour as the price has increased by 4 percent from yesterday.
This has been determined by the Fijian Competition and Consumer Commission after reviewing the wheat prices for the second quarter of 2023, revealing rising costs in production.
A 10kg normal flour will increase by 68 cents and will cost $17.52, a 5kg pack will increase by 34 cents and the new price will be $8.86, a 4kg pack will increase by 27 cents and will cost $7.12 while a 2kg pack will now cost $3.57 and a 1kg pack will cost $1.81.
FCCC says the wheat product refers to the raw materials which are milled and manufactured locally for the production of flour and sharp, therefore the price increase is attributed to the increase in milling and production costs for the period.
They say despite the slight decrease in the cost of raw material for the second quarter (Apr/May/Jun 2023), FCCC’s independent assessments resulted in an average increase in flour and sharp price by 4% attributed to the increase in milling and production costs and the continued strengthened of the USD currency.
They say despite this limitation, FCCC remains committed to actively monitoring these external market forces and will endeavour to adjust prices accordingly within the constraints of the global market scenario.
FCCC says its mandate as a market regulator is to ensure that the product manufactured sustains its supplies and at the same time is affordable to consumers ensuring that millers also achieve their return on investment carried out for the past ten(10) years.
