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Papua New Guinea's Trade Minister Richard Maru says consumers pay about 20% more than global benchmarks for Trukai rice, which he attributes to transfer pricing by the exporter SunRice. He wants price controls reinstated, while the Independent Consumer & Competition Commission says it has not yet verified the claim.
The dispute concerns import pricing and possible regulation of a local rice brand, so it has little effect on global supply and demand and mainly affects domestic consumer prices.
emtv.com.pgadmin Send an emailApr 5, 2017After 100 past neutral policy events, Rough Rice moved a median +0.0% over 5 sessions (51% higher; middle half -2.6% to +2.3%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
