Significant drop in Rewa Butter prices from today

Significant drop in Rewa Butter prices from today

By Vijay Narayan
Saturday 11/11/2023
Photo: File

Good news as there will be a significant reduction in the retail prices for Rewa Butter, effective from today.

The FCCC has undertaken a review in the price of Rewa Butter following a 19 percent decrease in landing cost of bulk raw butter, when compared to its last assessment.

A 500 grams Rewa Butter will cost $10.60 compared to the current price of $12.61, 250 grams will drop from $6.49 to $5.40 while 125 grams will cost people $2.80 compared to the current price of $3.43.

The commission says it's important to recognize that local prices are significantly influenced by procurement costs, such as the cost of imported raw materials.

It says as such, pricing determinations are based on a thorough consideration of market factors, including global commodity prices and supplier’s procurement costs based on freight rates, currency exchange rates and so on.

The FCCC says these price reductions represent a significant stride in enhancing the affordability of butter for Fijian families and reflect the FCCC's commitment to ensuring that market changes benefit consumers, fostering overall community well-being.

The commission says it’s vigilant monitoring of local market fluctuations and prompt implementation of necessary price adjustments remains pivotal in alleviating cost-of-living concerns and ensuring long-term market sustainability.

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