By: Thaimu Bai Sesay
In response to the persistent surge in the price of rice per bag, the Ministry of Trade and Industry has announced a pivotal agreement with rice importers aimed at maintaining the current price point. Effective immediately, consumers can purchase a 50kg bag of parboiled rice at the wholesale rate of SLE 840.00.
Following extensive negotiations with rice importers, the Ministry of Trade and Industry disclosed in a press release dated March 27, 2024, that an accord has been reached to mitigate the escalating costs burdening consumers. The agreement ensures that the price remains stable despite external factors influencing the global rice market.
“The Ministry of Trade and Industry wishes to inform the general public that, after series of consultations with rice importers over increased in price of rice, the importers have agreed to sell to the general public 50kg bag of parboiled rice at a wholesale price of SLE 840.00,” the statement from the Trade Ministry affirmed.
Acknowledging the necessity for a sustainable solution, the Ministry emphasized its commitment alongside rice importers to closely monitor global prices, freight expenses, local transportation costs, and other pertinent factors influencing rice prices. This concerted effort aims to safeguard consumers from undue price fluctuations and ensure accessibility to this staple food.
Furthermore, the Ministry underscored its dedication to enforcing the agreed-upon pricing structure. Retailers are admonished not to exceed the stipulated cost of SLE 900.00 per 50kg bag of parboiled rice. Any deviation from this directive will be met with strict penalties as part of efforts to uphold fair trade practices and protect consumer interests.
In light of the ongoing economic challenges and the indispensable role rice plays in the diet of Sierra Leoneans, the Ministry of Trade and Industry reassures the public of its unwavering commitment to maintaining price stability and fostering a conducive environment for sustainable economic growth.
The collaboration between the Ministry and rice importers signifies a proactive approach in addressing the concerns of citizens and underscores the government’s determination to mitigate the impact of external market forces on essential commodities.
For further inquiries or concerns regarding the implementation of this agreement, the Ministry of Trade and Industry encourages citizens to reach out through official channels provided for prompt assistance and clarification.
As the nation grapples with economic uncertainties, this agreement stands as a testament to the government’s proactive measures to alleviate financial burdens on its citizens and ensure the availability of affordable food staples.