Sufficient Rice On The Market

..Says Commerce Ministry

The Ministry of Commerce has disclosed that there is sufficient rice on the Liberian market to run for considerable time.

A statement from the ministry issued over the weekend said there is no shortage of rice on the market. For instance, SWAT, Supply Trading West Africa and other rice importers have sufficient rice in stock.

Rice is Liberia’s staple food.

The Ministry of Commerce and Industry says based on current inventory, there are over 40,000 (forty thousand) Metric Tons of rice in the country, accounting for 1.6 million bags of the 25Kg rice.

It added: “the available quantity has the capacity to supply the local rice market for approximately three months. Besides that, a consignment of 30,000 Metric Tons, equivalent to 1.2 million bags of rice is expected in Liberia this July that will sustain the local market for two months.”

The statement said, “out of this quantity, (thirty thousand Metric Tons)  is expected, 18,000 Metric Tons are due in between July 12 and 18, 2020.”

In recent times, there has been speculation of rice shortage on the market. But the Ministry said, it is not true.

The statement added  that a  supply of 55,000 (fifty five thousand) Metric Tons are expected in the country in August this year, accounting for 2.2 million, equivalent to about 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).”

Based on this, the ministry is warning the public to   desist from spreading false news about shortage of rice on the market as it would deal with any one in accordance with the law.

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

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