Commerce and Industry Minister Wilson K. Tarpeh yesterday informed members of the House of Representatives that the Rice Importers Association has dropped the price of a 25kg rice as negotiated by President George M. Weah. Tarpeh further told the lawmakers that at a later date, because of the downturn on the price of rice on the world market, the Rice Importers again reduced the price of the commodity by US$1, totaling US$3 on the overall reduced price. Also, the spokesperson of the Rice Importers Association, George Nehme told the lawmakers that since their meetings with their president and the Commerce Ministry, they reduced the prices as agreed. Members of the Rice Importers Association who attended the hearing in the House Chamber included, John Bestman of Harmony Trading Inc. and Anwar Ezzeddine of United Commodities Inc (UCI). Despite such claims in the reduction of the price of rice, local petty traders and consumers alike however contend that the price of rice still remains high at the current market price of US$15 per 25kg bag of rice.

Source: Daily Observer May 02, 2018 02:26 UTC