09 April 2010
Consumers will have to dig deeper into their pockets as the prices of butter and powdered milk increases from tomorrow.
The price of 125 gram of Rewa butter increases from $0.99 to $1.37; 250grams of butter from $1.84 to $2.71; and 500gram butter from $3.55 to $5.40.
According to the Prices and Incomes Board, the substantial increase in price reflects the escalating dairy product prices in the world market which subsequently results in high import cost of bulk butter, the major raw material for local butter.
The retail price of butter is an increase by 52 per cent while the new powdered milk prices reflects an increase of 40 per cent, from $3.50 to $4.92.
Consumers are also advised that the prices will differ in other centers due to additional delivery and cartage charges.
The new prices were approved by Finance Minister Commodore Voreqe Bainimarama following a submission by Rewa Dairy Co-operative Limited.
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