Liberian Businessman to import 50 containers of 25kg rice next month

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Liberian Businessman to import 50 containers of 25kg rice next month
Liberian Businessman to import 50 containers of 25kg rice next month

Africa-Press – Liberia. Speaking in an interview with reporters over the weekend, Saah Young Kinsley said the metric tons of rice worth over a million of United States dollars is Indian parboiled rice intended to help with the rice crisis in the country.

Amid reports of rice price increment on the Liberian market, a Liberian businessman and chief executive officer of Saah Young Business Center located in Waterside is expected to import thousands of metric tons of rice into the country.

Speaking in an interview with reporters over the weekend, Saah Young Kinsley said the metric tons of rice worth over a million of United States dollars is Indian parboiled rice intended to help with the rice crisis in the country.

He maintained that the rice, when brought into the country will be sold to the Liberian for an affordable price as compared to other prices that has been speculated in the press.

It can be recalled that in recent days the government of Liberia through the Ministry of Commerce announced the increment in the price of the Indian parboiled rice from $USD 16.75 to $USD 18.50.

This latest decision sparked tension among Liberians as rice is the country’s staple food, However, President Joseph Nyumah Boakai subsequently met with rice importers and other stakeholders on Tuesday, and a decision was taken that the price of rice on the market would not increase.

Based on continued discussion with the importers and other stakeholders, Mr. Modad agreed that adjustments would be made after reviewing other cost drivers necessitating further engagements.

“Subsequently, the President met with the rice importers and other stakeholders; predicated upon evolving possibilities, he decided that there will be no increase in the price of rice on the market,” the release said.

But businessman Kinsley noted that during the regime of former president George Weah, he imported 20 containers of the rice that was highly embraced by Liberians, alleging that he was resisted by the then Commerce Minister to avoid importation of the rice.

“During the past government regime I brought 20 containers and I sold it for 14 United States dollars, but after I finished selling the rice, I saw how best I could bring more, but the past government stopped me,” Saah Young added.

He praised the current commerce Minister Amin Modad for giving him clearance to import the fifty containers of rice into the country, something that will help minimize the risk of rice shortages on the market.

The Liberian businessman further revealed that a rice shortage in any economy has a negative impact on citizens of any nation, something he does not encourage.

According to him, such a situation can lead to increased prices of rice and other related products that may cause inflationary pressure, and potentially unrest among consumers who rely heavily on rice as a staple food.

“A rice shortage can have significant impacts on the economy. it can lead to increased prices for rice and related products, inflationary pressures, and potentially unrest among consumers who rely heavily on rice as a staple food,” Saah Young maintained.

He, however, said rice shortage on the Liberian market and any other economy may affect food security, trade balances, and overall economic stability, especially in regions Like Liberia where rice is a primary dietary staple.

Saah Young Kinsley, further revealed that his efforts to mitigate the shortage may include importing this metric tons of rice by sometime next month to promote alternative food sources.

Young, narrated that the rice when brought into the country will boast the government policy of ensuring that the rice price remains stable so that Liberian can afford it.

“Even though I will need profit as a businessman. This is intended to prove to other counterparts making business in the Liberian economy that there are capable and competent Liberian that can make the difference.” He added.

Meanwhile, the Liberian businessman asserted that the rice, when imported will help alleviate immediate supply constraints and stabilized prices.

He, however explained, importing large quantities of rice may also have broader implications, such as impacting local rice producers and agricultural sectors.

He also called on policymakers to strike a balance between short-term relief and long-term sustainability when managing such importation efforts.

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