The Government of Liberia said it would not allow rice prices to be increased under its watch. The George Weah-led administration, which has its root in the fight against poverty and lifting citizens up, said they would do everything to ensure that rice remains stable on the market and affordable.
AS a result of this, the government has decided to subsidize importers with an amount of US$12M. Subsidies to rice importers have been done by previous governments and removing them now will have a serious effect on the citizens.
Recently, rice retailers complained of an increase in the price of rice from US$13.00 to 16.00. Besides that, the importers said they were not releasing the rice due to the non-availability of profit. Also, business people from neighboring countries smuggled the rice to sell at a higher price; thus affecting the local market.
This prompted President Weah to assure both Liberians and importers of government intervention.
With the announcement, many importers expressed thanks to the government for prompt intervention. “Think the government is doing the right thing for the citizens. It means the government cares for its people. We want to thank the President for such intervention,” the importer told this paper.
Prior to that, the Ministry of Commerce and Industry issued a statement warning rice dealers not to increase the price of rice.
The Ministry of Commerce and Industry wants to make it crystal clear that the approved Government of Liberia’s retail price for a bag of rice is US$13.50 and not to exceed the US $14.00.” the statement said at the time.”