Africa-Press – Liberia. An assertion by the Minister of Finance, Samuel Tweah, that Firestone Liberia has halted the purchase of rubber from out-growers, has been firmly refuted by the company.
According to Firestone, Minister Tweah claimed without evidence last week during a meeting with the Vice President of the African Development Bank, Solomon Quaynor, that Firestone was no longer purchasing rubber from out-growers, saying the sector was on the verge of collapse unless US$10 million were infused to rescue the sector.
But in a strongly worded rebuttal, the Company claims that the Minister’s assertion is entirely false as they continue to purchase rubber from smallholder farmers.
“Contrary to the assertion, Firestone Liberia has not stopped buying rubber from out-growers,” the company said in a release.”
“Firestone Liberia notes that it has been purchasing rubber from local farmers across the country through the last several months, exceeding its current storage and factory capacity,” it added.
Tweah, among other things, claimed Firestone has been planting trees over the years and can now produce enough rubber without having to purchase it from elsewhere.
On this premise, he said rubber farmers are under pressure to sustain the sector and have identified value addition through processing as the most effective way to create jobs, maintain employment, and increase revenue.
But Firestone is refuting such claims, noting that its rubber processing factory is currently conducting annual maintenance, “which has resulted in a temporary reduction in the amount of rubber purchased during this time every year.”
The country’s largest and oldest rubber company added that its rubber buying is based on a factory production plan, holding at least one month of storage, and that “Firestone considers local farmers to be important partners and continues to engage with them to provide regular updates on the buying plan.”
“We look forward to continuing to work with all stakeholders to promote and encourage a robust rubber sector here in Liberia,” it added.
The country’s rubber industry continues to play a significant role in Liberia’s economy, contributing a considerable portion of the country’s export earnings and offering employment opportunities to numerous Liberians.
In 2021, Liberia’s rubber exports were worth US$193.7 million, and the country ranked eleventh globally in terms of natural rubber exports based on sales. The sector provides direct employment to around 50,000 individuals while supporting the livelihoods of many more through associated industries like transportation and small-scale trading.
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