The Ministry of Commerce and Industry has issued a stern warning against individuals who are in the constant habit of hoarding and re-bagging the recent imported Pro-Poor Rice on the Liberian Market.
According to the Ministry of Commerce, it has received cogent information of an alleged hoarding and re-begging of the recent imported Pro-Poor Rice by some unscrupulous individuals.
A release from the Ministry of Commerce also pointed out that it is only the Liberian Marketing Association (LMA) has been given the responsibility to wholesale the Pro-Poor Rice.
“The rice has two different prices dep
ending on the value attached. The 100% broken rice is sole for Nine United States Dollars ($ 9.00USD) wholesale and Ten United States Dollars ($10.00USD) retail, while the 5% broken rice is sole for Ten United States Dollars ($ 10.00USD) wholesale and Eleven United States Dollars ($ 11.00) retail” the release added.
Recently, the management of TRH Trading Corporation brought in a consignment of 80,000 Pro-Poor rice through the efforts of President Dr. George Manneh Weah to help ease the constraints and the high cost of rice on the Liberian market.
The Consignment of the Rice is also intended to put a smile on the faces of the poor people especially those residing in the rural parts of the country during the festive season.
The release further that the Government of Liberia through the Ministry of Commerce and Industry want the public to report any individual or business entities who are engaged in buying and keeping the rice for the purpose of creating artificial scarcity.
MOCI sees such action as a violation of the Business Law of Liberia adding that those involved in such unscrupulous behaviors to desist.
“We regulate all prices of goods on the Liberia market for the benefit of both the sellers and consumers.”
The release also noted that “The Ministry of Commerce and Industry remains committed to ensuring that the Pro-Poor rice will not be used for price fixing.”
As part of efforts to track down folks or business entity selling above the given price, the Ministry of Commerce through the office of the Inspector General has also released a hotline for the both GSM Company in the country. Lonestar (MTN 9911 OR Orange 6624).
At the same time, the Senior Management Team (SMT) has instructed The Inspector General immediately assign inspectors at the various market centers to monitor the distribution and sales of the rice.