Monrovia, Liberia – In response to circulating rumors regarding a surge in rice prices contrary to previous reductions, the Ministry of Commerce and Industry has firmly dismissed such claims. The Ministry asserted that there have been no authorized increases in the price of rice, contrary to misinformation in the public domain.
This statement follows the announcement made on Friday, February 16, 2024, by Commerce Minister Amine Modad, regarding a reduction in the price of 25kg bags of rice from US $17 to $16.75. This decision came after fruitful discussions with the rice importers association, solidifying the approved price, which is anticipated to remain effective until June.
In an official communication, the Ministry highlighted its commitment to closely monitoring both global and local trends that influence rice prices, ensuring that the commodity is sold at fair market rates. Additionally, distributors have been urged to facilitate the downward adjustment of prices to reach counties and communities across the nation.
Furthermore, the Ministry issued a stern warning against any individuals or entities found culpable of violating the approved pricing regulations. This includes selling rice above the stipulated price, hoarding supplies, disseminating false information, or engaging in profiteering activities that may cause panic among consumers.
To enforce compliance, the Ministry’s Inspectorate Division, operating under vigilant oversight, will be tasked with ensuring full adherence to the established guidelines.
The Ministry of Commerce and Industry remains steadfast in its commitment to fostering a transparent and equitable marketplace, where consumers can access essential commodities at reasonable prices.
By: Domingo Dargbeh
