With the current alibi of should-be scarcity of rice on the market, causing a hike in the price of 25kg bag of rice from US$13 (thirteen United States dollars) to US$17.50 (seventeen United States dollars and fifty cents), the Ministry of Commerce and Industry has reassured the public of the availability of three months rice supply on the Liberian market.
According to statistics shown by the Ministry of Commerce, currently in the country is 40,000 (forty thousand) metric tons or 1,600,000 (one million six hundred thousand) bags of rice, with the consumption rate of 550,000 (five hundred and fifty thousand) plus or minus 2.5 bags of rice monthly. All things remaining constant, the current supply in the country should comfortably serve the country for three months.
According to information gathered, there is a shipment of some 30,000 metric tons or 1,200,000 (one million, two hundred thousand) bags of rice expected in mid-July, which will push the available supply of rice on the Liberian market to November.
The Hot Pepper findings further suggest that, again, another shipment of some 55,000 (fifty five thousand) or 2,200,000 (two millions, two hundred thousand) is expected in August, representing another four months’ supply of rice on the Liberian market. This shipment is to take what is to be available up to February 2021.
Owing to the phony scarcity of rice on the Liberian market, retailers are hiding the commodity in an effort to create scarcity for the justification of the hike in the price of 25kg bag of rice from US$13 to US$17.50.
Meanwhile, the Ministry of Commerce is warning all retailers in the habit of hiking the price of 25kg bag of rice to desist or face the full weight of the law, as there is no scarcity of the commodity on the Liberian market. The Ministry of Commerce encouraged the consuming public to report any hike in the price of the commodity to the Ministry of Commerce for immediate action.