Traders, consumers warned of freight cost rises

The Fiji Competition and Consumer Commission warns that freight rates are expected to rise, and that this will likely see an increase in the price of everyday goods in turn.

In a recent statement it noted that vessels that would normally transit the Suez Canal are being rerouted around the Cape of Good Hope, adding up to 14 days to transit times and tightening available global shipping capacity.

The FCCC says the Containerised Freight Index has risen by more than 35% compared to the same period last year. About 80% of Fiji’s consumer goods are imported.

“Our message to the public is to plan ahead and shop wisely where possible. We are closing monitoring the markets and will release updates on specific commodities in the coming days,” says FCCC Ceo, Senikavika Jiuta.

The fuel and haulage sectors will be the first to be affected, followed by construction materials, and later, retail and grocery prices.

The FCCC reminds businesses that:

• any price increases  must be fair, transparent and supported by verifiable cost data
• they must maintain clear records, including freight invoices, supplier correspondence and landed cost calculations, to justify any price changes
• extend import procurement lead times by 3-4 weeks

It recommends that consumers:

• Plan ahead- expect gradual price changes over coming weeks
• Avoid unnecessary stockpiling
• Use fuel and electricity carefully
• Report unjustified price hikes to the FCCC

Government visits fuel suppliers in Singapore

Fiji’s Minister for Foreign Affairs and External Trade, Sakiasi Ditoka recently visited Singapore to discuss securing Fiji’s fuel supply.

According to a government statement, Fiji’s three primary fuel and petroleum product suppliers – Pacific Energy, ExxonMobil (Petro Oceania), and TotalEnergies have confirmed that fuel shipments to Fiji will proceed as scheduled, with no anticipated delays at this stage, and reaffirmed their commitment to honour existing contractual obligations.

The statement continues that while Minister Ditoka was advised that the Asia-Pacific region remains highly exposed, suppliers said they could source from alternative markets if required.

The government  says it will implement contingency measures to safeguard Fiji’s energy security in the weeks and months ahead.