Rewa Butter Prices Increase Effective From Today
It's important to recognize that the local butter prices are significantly influenced by procurement costs, such as the cost of imported raw materials.
Tuesday 04 June 2024 | 12:03
The Fiji Competition and Consumer Commission has determined the new retail prices for Rewa Butter, effective from Tuesday, 04 June 2024.
FCCC has undertaken a review in the price of Rewa Butter following an average increase in
landing cost of bulk raw butter by 18%, when compared to its last assessment.
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As part of this price revision, the manufacturing and other associated cost of production were
analyzed, with the outcome of the review as shown below:
Price Changes at Retail Level VIP (Retail Prices)
Since 2021 the landed cost movement for raw bulk butter as shown above indicating a fluctuating
trend. Given the last price change in November 2023, the prices of imported raw bulk butter has
been gradually rising.
As the global market adjusts to the persisting geopolitical war, the butter market has been influenced. Coupled with the rising inflation in New Zealand, the butter source country, supplier cost has noted an increase.
It's important to recognize that the local butter prices are significantly influenced by procurement
costs, such as the cost of imported raw materials.
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.
FCCC’s vigilant monitoring of local market fluctuations and prompt implementation of necessary
price adjustments remains pivotal in alleviating cost-of-living concerns and ensuring longterm
market sustainability.
