Hoarding is a major issue whenever there is a price increase - Abraham

With bus fare, flour, FMF breakfast crackers and bread prices set to increase from next Friday, FCCC CEO Joel Abraham says they are discouraging businesses that are thinking of hoarding and the FCCC is currently putting together a proposal to increase the penalty for hoarding.

Abraham says one thing they have noticed is that hoarding is a major issue whenever there is a price increase.

He says they feel the current penalty is not enough to serve as a deterrent.

The FCCC CEO has assured Fijians that their monitoring teams are on the ground to look at any consumer related issues which includes door to door checks.

Abraham says generally they do not have issues with supermarkets overcharging for products however it used to be a concern in the past.

He is also urging customers to be vigilant when they are shopping and ensure they know the price of the item before making a decision to buy the product.

It was announced yesterday that after considering all the costs associated with the transportation industry, the FCCC has approved an increase of 36.3% in all stages.

Abraham says Stage 1 fares increases from 75 cents to $1.02, Stage 2 fares will increase from $1.18 to $1.61 and so on.

He also says the FCCC undertook a thorough review of cost components and has approved an increase of 8% to 9% depending on individual flour products.

Abraham says a normal 10kg flour packed at factory wholesale will go from $14.57 to $16.30 while the retail price will be factored from $15.68 to $16.95.

He adds following the review of flour prices and submissions by manufacturers, FCCC also approved changes in the prices of bread and biscuit.

The CEO says FMF breakfast crackers 375g price increases from $1.70 to $2, FMF 5kg plastic pail increases from $28.41 to $32.14 while the 2kg plastic pail price increases from $12.36 to $13.89.

Abraham says three bread prices that are regulated by FCCC which include long loaf will increase from 71 cents to 94 cents, medium white 600g slice increases from $1 to $1.54 and medium wholemeal 600g slice increases from $1.14 to $1.63.