Sugar prices to go up as FCCC approves 90c per kg increase for ex-warehouse sugar

Sugar prices to go up as FCCC approves 90c per kg increase for ex-warehouse sugar

By Dhanjay Deo
Wednesday 19/01/2022

Sugar prices will go up as the Fijian Competition and Consumer Commission has approved an increase in the price for ex-warehouse sugar by 90 cents per kilogram, effective from tomorrow.

The new ex-warehouse price for 1kg of sugar will be $2.30, $4.60 for 2kg of sugar, $9.20 for 4kg of sugar and $57.50 for 25kg of sugar.

FCCC CEO, Joel Abraham says this price change is effective for FSC and all retailers are required to make submissions to FCCC to obtain their approved retail price for sugar.

Abraham says he wants to caution unscrupulous traders seeking to exploit Fijians by hoarding, refusing to sell, and profiteering from this price change. He says the FCCC will ensure that no trader hoodwinks the people.

Abraham says the new prices are a result of extensive public consultations and exhaustive reviews of FSC’s financials.

He says they also considered significant shifts in the world sugar market and the spill over effects of a heavily-subsidized price of sugar on the health and well-being of Fijians.

Abraham adds it is estimated from FSC’s consumer demand projections that finance raised directly through this price change will benefit Fijian cane growers by up-to $17 million annually, which has the potential to further boost the sugar industry.

He says the beneficiaries of this price change are cane farmers who are currently selling high quality sugar cane at an artificially low price in the domestic market.

Abraham further says moving forward, they will monitor FSC’s financial and operational performance on a monthly basis.

Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
Fijiana Drua historic win in Super W
The historic Super W win by the Rooster Chicken sponsored Fijiana Drua sets the platform for the Fijiana 15s side as they will play in the Women’s ...
30 days ago

Revised 2021-2022 National Budget passed in parliament
VAT to be zero rated for 21 items from 1st April 2022 and current 20 cents fuel tax to be removed - AG
63 days ago

Revised Budget consultations
Budget consultations held by the Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum.  Mon 28th Feb Tue 08th Mar Wed ...
73 days ago
Chiefs lead the Drua 28 - 13 at half time
Fijian Drua vs Chiefs First Half underway! ...
1 hour ago
Supporters from Nadroumai Village in Nadroga at Churchill Park to watch Kalaveti Ravouvou
A group of people have come from Nadroumai Village in Nadroga to support Swire Shipping Fijian Drua centre Kalaveti Ravouvou against the Chiefs in ...
3 hours ago

FJFW model grateful for family support
Model, Meresiana Vatavesi from Ba who took part in her first Fiji Fashion Week last night says she is following in the footsteps of her sister, Sera ...
3 hours ago

Jury deliberations begin in the Johnny Depp and Amber Heard defamation trial
After six weeks of testimony from Johnny Depp and Amber Heard’s legal teams, both sides have delivered their arguments today, and jury ...
4 hours ago

More help for cancer patients after Ram Sami donation
$1,149.45 has been given to the Fiji Cancer Society by Ram Sami and Sons Fiji Ltd to support those battling cancer. Ram Sami and Sons Fiji Ltd ...
4 hours ago

About 600 people back at work as Sheraton Fiji opens after undergoing $78.9 million refurbishment
About 600 people are now back at work after the opening of Sheraton Fiji Golf and Beach Resort in Denarau. The Resort has been closed since ...
4 hours ago