FCCC Chief Executive, Joel Abraham [File Photo]

The impact of the COVID-19 pandemic and the conflict between Ukraine and Russia is making it difficult for enforcement agencies like the Fijian Competition and Consumer Commission to predict market trends effectively.

Chief Executive Joel Abraham says the global market patterns, including supply and demand, have changed.

However, he says, despite these challenges, they have been able to keep the prices of items low compared to other countries.

“We could speculate and say that the prices would go down or come up but really there is more to it than global shifts and global prices because international freight rates are also being affected so while you may see a downward trend in the global purchase price of commodities, the freight rates may be going up or the exchange rates may be causing an increase in prices.”

However, he says, despite these challenges, they will ensure that businesses and consumers are protected.

“FCCC is committed and we have always remained committed to ensuring that all Fijian consumers and businesses are treated fairly and that they do what is right. We look at things like affordability, reliability, sustainability and availability of products when determining prices and in doing so we not only look at historical context in which market have operated but also look at market forecast.”

The FCCC says it will continue to work with industry partners and also partner with international institutions to ensure regulatory transparency.