By Monrovia, Liberia–The Commerce Ministry has announced the reduction of 25kg bag of rice on the Liberian market from $US17.00 to $US16.75 which is poised to take effect beginning Feb 19,2024.
Making the disclosure at a news conference, Minister of Commerce Amin Modad asserted that their decision to reduce the price of 25kg bag of rice on the market came after a dialogue between ministry of commerce and Industry and the Rice Importers Association of Liberia.
Giving reasons for the reduction of Rice Price, Minister Modad lamented that currently there are stocks of 120,000 metric tons of 25kg bags of Indian parboiled rice in the country, which according to him is sufficient to last for the next three to four months, and that new Orders are expected in the country between May and June. He further that with the president “Rescue Mission”, they are obligated to provide the citizens affordable choices despite the global changes.
Knowing that rice is the country’s staple diets, the Liberia Newly appointed Minister of Commerce at the same time reviled that the ministry and rice dealer have agreed to conduct periodic reviews aim to determine the regular prices of commodities on the market.
Minister Modad however disclosed that the Rice Importers have committed themselves to collectively invest in local rice production through local farmers, an initiatives that will boots the efforts of national government “Rice Reserve”.
He therefore pointed out that the programs that is been arranged by the ministry will kickoff early March of this year, and will establish value to the state of local rice production that which the country will lookup to for food sustainability.
By: Domingo Dargbeh
