The retail price for Rewa Butter has significantly dropped from today.
The Fijian Competition and Consumer Commission (FCCC) while announcing this said it undertook a price review following a 19 percent decrease in landing cost of bulk raw butter when compared to its last assessment.
As part of this price revision, the manufacturing and other associated cost of production were analyzed.
FCCC said it’s important to recognize that local prices are significantly influenced by procurement costs, such as the cost of imported raw materials and 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 and currency exchange rates.
A 125 grams Rewa Butter is now retailing at $2.80 cents compared to the old price of $3.43, a 250 grams pack is retailing at $5.40 after a decrease $6.49 while the price for 500grams butter has reduced from $12.61 to $10.60.