Monrovia, Liberia – Friday, March 6, 2026:
Amid the ongoing Iran–United States conflict which has triggered a rise in the prices of essential commodities globally, the Ministry of Commerce and Industry has announced a significant breakthrough in stabilizing the price of rice on the Liberian market.
The decision followed an emergency meeting held Friday between the Ministry and the country’s leading rice importers. During the meeting, both parties reached a consensus that the wholesale price of a 25kg bag of rice will remain at US$14.00, while the retail price will remain at US$14.50 or its equivalent in Liberian dollars.
Members of the Ministry’s Senior Management Team, led by Commerce and Industry Minister Magdalene Ellen Dagoseh, emphasized that the rice currently available on the Liberian market was imported prior to the escalation of the Iran–US crisis, and therefore there is no justification for any immediate price increase.
Six of the country’s major rice importers—Fouta Corporation, UCI, K&K, SWAT, Founi Brothers, and A-Z Corporation—agreed during the meeting to maintain the current price of the available rice stock on the market.
However, the importers expressed concern about the potential impact of the global crisis on future shipments. They appealed to the government to consider adjusting rice prices in the future if the crisis persists and significantly affects the cost of bringing new shipments into the country.
In response, the Ministry of Commerce and Industry acknowledged the importers’ concerns and assured them that further discussions will be held should new market conditions arise that may require price adjustments.
Minister Dagoseh also urged the importers to honor the agreement reached during the meeting, noting that maintaining the current price is crucial to protecting the interest of the Liberian people and strengthening the ongoing collaboration between government and the private sector.
Meanwhile, the Ministry announced plans to increase the number of market inspectors across the country to ensure strict enforcement and monitoring of business practices. Authorities warned that any form of price manipulation or unfair trade practices will be met with appropriate legal action.
The Ministry reaffirmed its commitment to ensuring stability in the country’s business environment and safeguarding consumers from unjustified price hikes, particularly during a time of global economic uncertainty.
