In a decisive move to ease the burden on Liberian households, President Joseph Nyuma Boakai, Sr., has announced significant reductions in the prices of flour and rice, following recommendations from the Presidential Ad-Hoc Committee on Price Contradictions, chaired by Vice President Jeremiah Kpan Koung, Sr.
The President revealed that the wholesale price of flour has been reduced from US$39.00 to US$35.00 per 100-pound bag, while the price of rice has been lowered from US$16.75 to US$14.00 per 25-kilogram bag.
"These reductions represent my government's commitment to ensuring that the ordinary Liberian family has access to affordable food," President Boakai said. "At the same time, we are working with producers and importers to maintain fair and sustainable trade practices that safeguard continuous supply."
President Boakai instructed the Ministry of Commerce inspectors and all relevant stakeholders to ensure strict enforcement of the new prices nationwide.
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"Any individual or business found creating arbitrary price increases will face the full weight of the law," he warned, emphasizing the government's determination to protect consumers and prevent price manipulation.
While the new prices take effect immediately, the President confirmed that the Presidential Ad-Hoc Committee on Price Contradictions will continue consultations with producers, importers, and retailers to review cost drivers and explore additional opportunities for further reductions.
"Stabilizing prices, strengthening food security, and easing the burden on Liberian households remain top priorities of my Administration," he added.
The committee, tasked with investigating price inconsistencies and unjustified hikes in essential commodities, engages with stakeholders to ensure that trade practices are fair, transparent, and sustainable.
Over the past months, Liberians have expressed concern over the rising cost of staple foods, which has significantly affected household budgets in urban and rural areas alike. The Presidential committee was established to identify price contradictions, recommend corrective actions, and protect the purchasing power of ordinary citizens.
By implementing the committee's recommendations, the Boakai administration aims to enhance affordability, stabilize supply chains, and ensure fair trading practices across the country.
"Our goal is not only to reduce prices today but to create systems that prevent future arbitrary increases and secure food accessibility for all Liberians," President Boakai emphasized.
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Analysts predict that the new price adjustments will provide immediate relief to households, particularly those in low- and middle-income brackets. Market observers note that the government's move could also encourage compliance among traders and strengthen confidence in regulatory mechanisms for essential goods.
With both enforcement measures and ongoing consultations in place, the government signals a proactive approach to managing food prices and maintaining national food security.
