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ICCC reviews rice price

Staff Reporter 9/21/2015 | |
The Independent Consumer and Competition Commission is calling for comments and submissions from stakeholders including the general public, on its draft report into a review of the Rice Industry Pricing, before October 9.
I Triple C Commissioner and CEO Paulus Ain said, the current monitoring arrangement for Roots Rice will expire at the end of this year, and a review has been undertaken to determine whether or not I Triple C, will continue monitoring the price, or introduce price control from 2016 to 2020.
Mr. Ain said, rice is one of the main sources of carbohydrates, and also constitutes a considerable portion of the average household's income in most rural and urban communities in PNG, therefore, the monitoring and regulation of it's price is important.
He also said the report has also identified that the rice market in PNG is highly competitive, and despite Trukai Rice still holding onto a bigger portion of the market share, there are no barriers for new entrants both locally and overseas.
Commissioner Ain added that the competition in the industry has brought benefits to PNG, where retailers and consumers now have more choices, and there is competition in prices, compared to when Trukai was the sole supplier.

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