-Rise in exchange rate, prices sky rocket nationwide
By Edwin M. Fayia, III
As the aborted November 7 runoff presidential election under the National Elections Commission (NEC) encountered legal challenges, major Liberian and foreign businesses have placed hold on the importation of goods into the country.
During a week-tour of several Liberian and foreign business entities in the three commercial hubs of Red-Light, Duala and Waterside in Monrovia and Paynesville, it was observed that most of the stores and shops are literally becoming empty of essential food commodities.
At the Waterside general market vegetable section, several table stalls were spotted empty and owners of the concrete cement tables noted that they were not getting the needed produce from the rural parts of the country.
For the Red-Light Market, many of the vegetable stalls were visibly empty, as some of the sellers had gone in search of produce in areas of the market where rural farmers gather to sell fresh harvested commodities to urban businesswomen.
At the Duala Market on the Bushrod Island in Monrovia, visibly worried and frustrated vegetable businesswomen told this Reporter that they have waited for about two weeks and no fresh vegetables are coming from the rural parts of the country.
“We are indeed constrained to sell at high prices the small, small vegetables and greens that we are buying from our rural Montserrado farmers to our Monrovia customers,” Madam Sarah B. Padmore of Duala Market revealed.
Such commodities that steadily running out stock include and limited to are rice, flour, cooking oil and even vegetables in Paynesville, Waterside and Duala Markets in Monrovia.
A 25 kilograms bag of rice (Liberia staple diet) is now being sold on the Liberian market for LD$1,950.00 or US$27.00, medium size flour now sold for LD$1,980.00 and cooking oil in a small size gallon is now sold for LD$1,500.00.
Two weeks ago, prices of the above mentioned commodities were been sold at reasonable prices in Monrovia three major commercial centers.
But, due to the saturated foreign exchange in Monrovia and some parts of the country, many homes and hard to reach areas of the nation are finding things very difficult.
To add up to the shortage of vegetables, farmers in the rural Liberia are not harvesting their produce owing to the current court action initiated by the opposition Liberty Party, according to reports.
A few of them that managed to bring to Monrovia some produce such as plantain, banana, cassava and eddoes told this Reporter that there are too negative news reaching the rural parts thus, sending fear in the minds of Liberians.
“We are not harvesting our produce because too much bad news continues to spread in our towns and villages since our elections business started in our country,” farmer David Kollie Kolleh asserted.
As a result of such acute shortages according to some of the major importers and consumers, prices of these commodities have begun to sky rocket beyond the purchasing powers of ordinary Liberians.
Owing to the saturated foreign exchange rate, many large and small Liberian business entities are finding things very difficult in acquiring the needed hard currencies to import critically needed commodities on the Liberian market.
Several household wives in interviews over the weekend pointed out that, all the retail measurement cups have been reduced or cut by the retailers at the various markets in Monrovia and Paynesville.
“One month ago, my husband was giving me LD$300.00 for daily food but, has to double money due to the hike prices food at the Red-Light Market,” Mrs. Mary Mulbah Duncan noted.