“Stop Now”

Min. Of Commerce Warns Rice Retailers

MONROVIA-The Ministry of Commerce and Industry has sounded a strong warning to those who are retailing rice on the Liberian market.

A release signed by Jacob N.B. Parley, Communications Director at MOCI said that it has been observed that retail businesses are consistently increasing the retail price of a bag of rice on the market despite the fact that they are still purchasing at the wholesale price of US$13.00.

The Ministry of Commerce and Industry in their release made it clear that the approved Government of Liberia’s retail price for a bag of rice is US$13.50.

Additionally, the Liberian Government said the US$13.50 is the current price of rice and not US$14.00 or more.

“Unfortunately, we are receiving reports that instead of the Government’s approved retail price of USD$13.50, some businesses are selling a bag of rice up to US$22.00. This is illegal, totally unacceptable and MUST STOP NOW!” the release said.

The Ministry said at the time they are in the midst of addressing concerns of global increases affecting the wholesale price of rice, they continue to receive reports that rice importers are refusing to sell to retailers and the general public which is unacceptable and bears major consequences.

“This must stop!” the release said.

They are discouraging Liberians about panic-buying, hoarding and selling above Government’s approved price. The Ministry indicated that those businesses found engaging in such activities will be closed down immediately and penalties will be imposed.

Note that the Inspectorate Division of the Ministry of Commerce and Industry will be vigilant to compel full compliance to this regulation” Mr. Parley concluded the press statement.


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