20 Nov 2008

PNG consumers yet to feel eight percent rice price hike

9:14 am on 20 November 2008

A main rice distributor in Papua New Guinea says some supermarket customers haven't yet been hit by an 8 percent price rise for its product.

Trukai Industries says customers will feel the pinch of the price hike when their local supermarkets re-orders new stock.

Its general manager for corporate affairs, Geoff Fahey says retail prices will increase after new stock is in stores.

"Once they've got new stock at new pricings they will adjust their prices accordingly and rice is just a commodity like any other. The last 12 months to 2 years we've seen big increases in both grain prices that's wheat and flour and also rice."

Geoff Fahey says its mark up will see customers pay about 4 kina 50 or around $1.80 US for a kilogram of Roots rice.

While, a kilogram of Trukai rice will retail at about 5 kina which is about 2 dollars US.