Imported Frozen Meat Prices Determined by Markets

Tag : Frozen Meat

Although duties on imported frozen meat were removed on July 1st,the new prices have yet to come into effect.

There is still some remaining stock under the old prices and theseneed to be sold before the new prices come into effect.

Acting Deputy Secretary of the Ministry of Labour, Commerce &Industries, 'Alipate Tavo said the aim of removing the duty tax onimported frozen meat items was so that the price of imported meatcould come down.

In the meantime, the ministry does not have the authority over theprice of meat - it is being dictated by the businesses and themarket.

According to Alipate, a lot of businesses had imported frozen meatwhen they were still paying customs duty on them, and so thesebusinesses want to finish selling that stock on the using the oldprices until it has finished and then bring in the new prices.

Alipate said they were able to find this out following a surveythey carried out on businesses selling retails products.

Meanwhile, there was also a question on the rise in price of oiland when it increases when it reaches Tonga.

Alipate clarified that they held an annual negotiation program withthe oil companies and this was where the oil prices weredetermined.

However, when the price oil rise, the prices in Tonga will be hikedupwards accordingly after one-month, so the new price usually comeinto effect on the 1st of the following month.......ENDS