The Fijian Competition and Consumer Commission has clarified the ‘ex-warehouse price’ for sugar.
The announced prices yesterday refer to the selling price from the warehouse.
FCCC Chief Executive, Joel Abraham adds that this is referring to the selling price from the Fiji Sugar Corporation to retailers or those that buy directly from FSC.
Abraham says the increase in ex-warehouse prices may result in an increase in retail price, however, he reassures there are measures in place to protect consumers.
He says they will also ensure that new pricing submissions made by the retailers are appropriate and necessary costs are reflected.
Abraham warns that failure to sell a product at an FCCC approved retail price will result in a direct breach of section 44 of the FCCC Act 2010.
The FCCC CEO also cautioned unscrupulous traders seeking to exploit Fijians by hoarding, refusing to sell and profiteering from this price range.
The new ex-warehouse price for 1kg sugar now is $2.30, 2kg now costs $4.60, and the new ex-warehouse price of 4kg sugar is $9.20, while the new ex-warehouse price for 25kg sugar is $57.50.