Prices of local fruits and vegetables expected to remain high due to supply shortages

Prices of local fruits and vegetables expected to remain high due to supply shortages

By Vijay Narayan , Iva Danford
Wednesday 03/03/2021
[Image: file photo]

The Reserve Bank of Fiji says prices of locally produced fruits and vegetables are anticipated to rise in the coming months due to supply-side shortages caused by Tropical Cyclone Ana and the associated flooding.

Assessments done by fijivillage show that some market vendors are selling a bundle of long bean for upto $7, small dhania for upto $4 and a small heap of lettuce for $4. Price increases have also been noted for other vegetables.

The RBF has said in it’s latest economic review that price increases for local fruits and vegetables are expected to be temporary and subside as supply normalises after a few months.

The Consumer Council of Fiji says vegetables are not price controlled and therefore it is sold at market prices.

The Council says they work on the basis of supply and demand and the likely issue is that the supply is not meeting the demand which is resulting in the increase in the price of vegetables.

The Consumer Council says in most cases, when natural disasters occur it will take a while for suppliers to replenish their stocks because they too need time to recover.

They say we have also had a series of tropical depressions with associated heavy showers that may have impacted the farms as well as the supply chains.

The Council is urging consumers to shop around for the best prices before making a purchase and determine whether you are actually getting value for your money.

Meanwhile the RBF says the year-end inflation forecast remains unchanged at 1.5 percent.

The RBF also says annual headline inflation has been in negative territory since October 2019 and was -1.3 percent in January, driven by lower prices of alcoholic beverages, yaqona, kerosene, gas, petrol and diesel.

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