Two-days of negotiations between President George Weah and rice importers this week paid off at the weekend, with announcement of an immediate reduction in the price of Liberia’s staple food by up to US$4.
The rice importers agreed on Friday to reduce the price of a 25kg bag by two United States Dollars, while the price of a 50kg bag is reduced by US$4.
The price of rice has taken a nose dive recently, with the price of a 25kg bag being sold for over US$18 in the capital, Monrovia for example.
President George Manneh Weah has meanwhile acknowledged the favorable response of rice importers to his request for reduction in the price of the nation’s staple food.
An Executive Mansion press release said President Weah had earlier proposed a reduction of US$3.00. But it said due to some constraints proffered by rice moguls, it was agreed that the US$3 reduction from the cost of a 25kg bag of rice would not be possible immediately.
However, further reduction “could still be possible in the future once a few challenges facing the rice market were addressed and the modalities worked out,” the release said.
The welcoming news of the drop in rice price comes as a result of increased pressure on rice importers by President Weah who believes it is intolerable for the price of the national staple, to continue to increase amidst the high cost of living in the country.
For the second day-running President Weah and officials of the rice Importers Association of Liberia on Friday met to continue negotiations on the reduction of the price of rice which started on Thursday.
The new Liberian leader, who took office in January 2018 promising a “pro-poor” agenda, vowed during the talks to do everything possible to ensure that the rice market price was reduced.
“If government-imposed tax is an issue, you can rest assured that my government is more than ready to grant reasonable adjustments in the tax regime to make the reduction of rice price possible,” the 51-year-old President said.