The attention of the of the Ministry of Commerce and Industry has immediately been drawn to  increasing speculations, pointing to shortage of Liberia’s staple food, rice, when the Country’s current rice inventory shows that such  speculations are far from the reality.

Based on the current inventory, there are 40,000 (forty thousand) Metric Tons of rice in country, accounting for 1.6 million bags of the 25Kg Rice.

The available quantity has the capacity to supply the local rice market for approximately 3(three months).

In addition, a consignment of 30,000 (thirty thousand) Metric Tons, equivalent to 1.2 million bags of rice is expected into Liberia in July this year, that will sustain the local market for 2 (two months.

Eighteen thousand (18,000) Metric Tons out of the 30,000 earmarked for the Month of July 2020 arrived in the Country last week.

 An additional supply of 55,000 (fifty five thousand) Metric Tons are expected into the Country in August, accounting for 2.2 million, equivalent to about 4 (four months) supply.

“We would also like to make it emphatically clear that the approved retail price for the 25Kg bag of Rice is US$13.50 (thirty United States Dollars and fifty cents).”

Against this backdrop, the Commerce Ministry is warning against unwholesome practices in the Liberian business sector, including but not limited to hoarding of any commodity for that matter or arbitrary stepping up of its price. The Commerce Ministry will not relent to apply the appropriately laws in going after those whose inordinate desire is to profiteer at the expense of the public, especially during these testing days of the Coronavirus Pandemic in Liberia.

At the same time, we admonish the public to work along with the Ministry’s Inspectorate by reporting any unhealthy practices in the Liberian business sector as collaboration plays a pivotal role in curtailing such unwholesome activities.

The various Hot Lines are available: (Orange: 9911 and Lone Star: 6624).

Jacob N.B. Parley

Communications Director

0886560455/0777504576

WhatSApps: 0881336137

Emails:jparley@staff.moci.gov.lr/jacobtheancestor@yahoo.com