Increment in the price of rice on the Liberian market as announced by Commerce Minister Amin Modad, appears not to be the policy of the government as President Joseph Nyuma Boakai is said to have rejected any increase.
With this inconsistency in the government’s policy decision, a Liberian Economist sees it the other way.
Mr. Samuel P. Jackson said the rice price increase was not managed properly by the Boakai administration.
He observed that the President met with importers only after the price has been announced adding that “This action appears as an afterthought.”
Jackson noted that the increase in rice price will hit the poorest Liberians very hard especially those in outlying counties.
“Rice is a strategic political and security commodity. Price increases should be managed so as to minimize the effects on the poor people who are more than half of the population,” he stressed.
The Liberian Economist also indicated that he does not think it makes economic sense to subsidize imported rice.
“Going further the agriculturist president should show us his strategic plan for rice self-sufficiency,” Jackson requested.
On Monday, May 20, 2024, Commerce Minister Modad told a news conference in Monrovia that the price of rice has been increased from US$16.50 to 18.50.
Modad said rice importers rejected several proposals to maintain the current price of rice on the local market.
However, a day following the announcement by Minister Modad, President Boakai met with rice importers at the Executive Mansion on Tuesday, May 21, 2024. During the meeting, the President rejected any increase in the commodity and reportedly walked out of the meeting.
But Jackson said he is not sure if the government sought to reduce other local charges on the commodity before agreeing to a price increase. “Like local stevedoring charges. Medtech charges? APM terminal charges etc,” he said.
