MONROVIA – The Liberia Business Association (LIBA) has said it will take serious exception regarding any decision by the government to subsidize the price of rice, especially when the increase is subsidized by global hike.
On May 20, the Ministry of Commerce and Industry announced a pending increase in the price of rice due to several factors. However, during a meeting held by the President Joseph Nyuma Boakai with rice importers at the Executive Mansion, the possibilities of an imminent increase in the price of Liberia’s stable food was seen to be realistic, notwithstanding, President Boakai informed the rice importers that there will be no increase in the price of rice.
The Liberian Business Association commends President Joseph Nyuma Boakai for his “bold and courageous” stand on maintaining the price of rice.
However, it cautioned that if maintaining the current market price of a 25 kg bag of rice means the government will absorb some costs, LIBA takes serious exception regarding any decision to subsidize the price of rice, especially when the increase is influenced by global hike due to factors beyond our control.
“The government of Liberia will not subsidize the price of rice, but insists that the price remains the same in spite of the global increase in commodity prices. LIBA is afraid that this may lead to hoarding, and therefore condemns any act by unscrupulous individuals or importers to create artificial shortage of rice on the Liberian market,” a statement issued by LIBA through its President James Strother said.
It added: “In this regard, LIBA calls on our border control security personnel to remain vigilant and prevent the haulage of large quantities of rice to our neighboring countries at the detriment of the country’s interest,” Mr. Strother added. “If maintaining the current market price of a 25 kg bag of rice means the government will absorb some costs, LIBA takes serious exception regarding any decision to subsidize the price of rice.”
The Liberian Business Association believes that rice importers in Liberia have the financial capacity to establish large commercial rice farms and acquire the necessary rice harvesting, milling and parboiling machineries to commence value addition to our locally produced “country rice” that would satisfy the taste and preference of Liberians to that of the imported parboiled rice.
