The Fijian Competition and Consumer Commission (FCCC) has announced a notable reduction in the retail prices of two prominent milk powder brands.
The price of Red Cow Instant Full Cream Milk Powder and Punjas Instant Milk Powder falls from today 15 September 2023.
The price of a 450 grams Red Cow Instant Full Cream Milk Powder falls from $5.88 to $5.47 and this is a decrease by 41 cents or 7 per cent, the price of a 300 grams packet drops from $4.07 to $3.75, a decrease of 32 cents or 8 per cent while a 250g packet of milk will now cost $3.21 after a decrease of 22 cents (6 per cent) from $3.43.
The price of 400 grams Punjas Instant Milk Powder falls from $5.23 to $4.90, which is a decrease of 33 cents or 6 per cent while the price of a 300 grams packet falls by 32 cents from $4.07 to $3.75 (8 per cent).
This price adjustment is a direct response to the Fonterra Co-operative Group reduction of its 2023/20241 season Farmgate Milk Price as announced on 18 August 2023.
In the same context, Global Dairy Trade (GDT) prices have fallen sharply with the overall index down 16 per cent over the period.
Specifically, whole milk powder prices fell by 10.9 per cent.
FCCC says the reduced demand from major key importing regions for whole milk powder continues to weigh on prices.
As Fiji sources its milk product from New Zealand, these factors prompted FCCC’s recent review of the prices of Instant Full Cream Milk Powder for recent shipments of selected brands.
