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ICCC to review Prices of Rice in PNG

The PNG  Independent Consumer and Competition Commission (ICCC) is in the process of conducting a review of the prices of rice in the country.

ICCC Commissioner Paulus Ain in an interview with NBC News says rice products are the main food that most Papua New Guineans consume daily.

However, Mr. Ain says the commission is only monitoring the prices of rice and not controlling it.

The 2022 Rice Industry Pricing Review outlined that the price increases were driven by costs increases in international shipping, blending, the need to source from higher priced markets to avoid shipping delays and congestion, and higher ports and wharfing costs.

However, Mr. Ain explains that rice product is experiencing some stability, and he says the country should expect stability or a decline in the prices by the end of this year or early next year.

Meantime, NBC News observed some major shops in Port Moresby are selling popular rice brands at K30 to K40 for 10kg bags of rice.    

NBC News / PNG Today

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