Liberia Ministry of Commerce Terms Increase in Prices of Rice as Illegal and Totally Unacceptable.

MONROVIA, LIBERIA– Authorities at the Ministry of Commerce says they have observed an unapproved increment in the retail price of a bag of rice by businesses on the Liberian market.

According to a release from the Ministry, businesses are increasing the price of rice on the Liberian market against Government’s approved retail price despite purchasing the commodity at a wholesale price of thirteen ($13.00) United States Dollars.

The Ministry further disclosed that instead of Government’s approved retail price, some businesses are selling a bag of rice up to twenty-two US Dollars.

The Commerce Ministry is however warning citizens against panic-buying, hoarding and selling above Government’s approved price, stating anyone found engaging in such activities will be closed down with penalties imposed.

Meanwhile, the Liberian Government through it’s information Minister Ledgerhood Rennie wants the public to exercise patience, amid ongoing talks between the government and rice importers to find a amicable solution in stabilizing the price of the product.

Minister Rennie reiterated Government’s stance against arbitrary hike in the price of rice on the local market, warning against any act of profiteering at the expense of ordinary citizens.

Minister Rennie re-echoed that there is a sufficient stuck of rice on the Liberian market, and as such, and there is no need for panic buying.

Published by Image Builders Liberia

Image Builders Liberia is a not-for-profit with focus on people that are vulnerable in society. We aim to create a place where they can obtain optimum benefit and contribute to the growth and development of their communities.

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