MOCI is the Liberian government's line ministry that is responsible for the growth and development of the country's economy and international trade.
In a statement issued in Monrovia on Friday, July 3, 2020, the MOCI further warned that any business entity caught in the process of selling a 25kg bag of rice above the stipulated price of US$13.50 or L$2,800 will be dealt with drastically in accordance with the Commerce Law of Liberia.
The MOCI said anyone selling rice for more than US$13.50 or L$2,800 to desist or else will face stern regulatory action.
Contrary to rumors that the country's staple food commodity (rice) is scarce on the market, the ministry clarified that there are enough quantity in stock and more are expected this month and the coming months.
"We have about 40,000 metric tons or 1,600,000 bags of rice in country, and that supply can last for the next three months because our monthly consumption is 550,000 bags," the ministry disclosed. .
The ministry further disclosed that a shipment of 30,000 metric tons ( 1,200,00 bags), which is additional two months’ supply, is expected in country this July.
Of the 30,000 metric tons, the ministry mentioned that the first batch of 18,000 metric tons will arrive between July 12 and 16.
Meanwhile, the ministry announced that a consignment of 55,000 metric tons of rice or 2,200,000 bags, which is four months’ supply, is due in August.