The unbeaten Fiji Pearls and second-placed Samoa qualified for the world meet.
The result means the national team now turns their focus on next year’s Pacific Games.
The Pacific MMI sponsored-Pepes lost to Samoa 49-39 in the second round of the competition last Thursday to extinguish any hope of a second-place finish.
The Annie Iamo-coached side beat Cook Islands 49-44 and needed an improbable win over Fiji in their last game of the tournament.
PNG stayed competitive against Fiji trailing by two in the first quarter 14-12, and being five behind, 30-25 at half time.
Shooter Tiata Baldwin and goal attack Lua Rikis made the most of their chances and along with strong efforts from Marinama Maha and Winnie Mavara as well as defenders Susan Wellington and Kilala Owen were able to keep the score close before eventually going down 45-32.
In the other match over the weekend the Cook Islands were beaten 50-36 by Samoa ensuring PNG finished third in the four-team tournament.
The Pepes return today.