Rewa butter [File Photo]

The prices of Rewa Butter have increased from today.

The increase determined by the Fijian Competition and Consumer Commission comes following a review in the price of Rewa Butter due to an average increase in landing cost of bulk raw butter by 18%, when compared to its last assessment.

A 125g pack of Rewa Butter will now cost $3.21 and increase in price by 15 percent, the price of 250g pack will increase by 19 percent to cost $6.41 while the 500g pack will cost $12.73, an increase of 20 percent.

[Source: Supplied]

The FCCC says given the last price change in November 2023, the prices of imported raw bulk butter has been gradually rising.

It says that 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 costs have noted an increase.

The FCCC says it is important to recognize that procurement costs, such as the cost of imported raw materials significantly influence the local butter prices.

As such, it says 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.