Praneeta Prakash 
[Source: RT]
Fijians can expect a decrease in the retail price of Red Cow Instant Full Cream Milk Powder and Punjas Instant Milk Powder starting today.
The Fijian Competition and Consumer Commission says this is in line with their commitment to ensuring the affordability of basic food items for everyday Fijians while ensuring market sustainability.
It says the price adjustment is a direct response to the Fonterra Co-operative Group’s reduction of its 2023–2024 season farm gate milk price, as announced on August 18th this year.
The FCCC says global dairy trade prices have fallen sharply, with the overall index down 16 percent over the period.
Specifically, whole milk powder prices fell by 10.9 percent.
It says the reduced demand from major key importing regions for whole milk powder continues to weigh on prices.
The Consumer Protection Agency says as Fiji sources its milk product from New Zealand, these factors prompted the FCCC’s recent review of the prices of instant full cream milk powder for recent shipments of selected brands.
This price reduction aligns with market indicators, which have consistently pointed to declining prices in the international market.
With Fonterra projecting a lower price, it is expected to have a positive ripple effect on other milk providers in the region, as Fonterra plays a significant role in the Asia-Pacific market.
The Commission remains vigilant and will closely monitor local market fluctuations, ensuring that any price adjustments are promptly and fairly reflected in our local market.
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