Sugar pricing review released

Business, Normal

The National, Thursday November 7th, 2013

 THE Independent Consumer and Commission (ICCC) has announced the release of the final report in the sugar industry pricing review after an extensive public consultation process over the past ten months.

“The ICCC under its regulatory powers monitors certain declared goods and services of which sugar is one of them. 

“In the final report, the commission concluded to continue price monitoring of the factory gate price of main Ramu Sugar branded products,” chief executive officer Dr Billy Manoka said.

He said the monitoring arrangements will continue for another five years, starting on Jan 3, 2014 and ending Dec 31, 2018 after which it would reviewed again. 

“During the mid-term of the monitoring period if RamuAgri Industries Ltd is able to provide evidence to the commission against the current arrangements, the price monitoring regime will be removed,” Manoka said in a statement.