Liberia: Boakai Administration Under Pressure As Rice Importers Demand Price Hike to Prevent Shortage
Monrovia — The Joseph Boakai administration faces pressure to meet rice importers’ demands for a price hike to $20 per 25kg bag, risking a severe shortage if unmet. Importers, including K & K Trading Corp., have written to the Ministry of Commerce, citing rising import costs and operational challenges. K & K Corp highlighted ongoing significant losses due to delayed government approval for price increases.
Monrovia — The Joseph Boakai administration faces mounting pressure to agree to rice importers’ demands for a price hike on the nation’s staple food. Failure to comply could result in a severe shortage, as importers threaten to withhold supplies until their demands are met.
FrontPageAfrica has gathered that the rice importers have written to the Ministry of Commerce and Industry, proposing a minimum price of US$20 per 25kg bag of parboiled rice. They argue this increment is necessary to offset the rising cost of importing rice to Liberia.
FrontPageAfrica has seen a communication from K & K Trading Corp. to the Minister of Commerce, outlining the challenges they are facing and the losses they continue to incur while the Liberian government delays the price increment on the local market.
K&K Corp stated: “Regrettably, due to the price hike for rice from the origin country and other operational challenges, we find ourselves in a position where we are selling the rice at a significant loss.
Source Link: https://allafrica.com/stories/202405200222.html
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