Sierra Leone’s Minister of Agriculture and Food Security, Dr. Henry Musa Kpaka has described the reduction in the wholesale price of imported rice as a temporary measure to enhance affordability while advancing the goal of achieving self-sufficiency in rice production.
He disclosed that over 600,000 hectares of rice were cultivated in 2024 through collaborative efforts between the government and private individuals. Dr. Kpaka noted ongoing irrigation work and the installation of a large milling machine at Tormabum, expressing confidence that locally produced rice would soon be available in shops nationwide.
He emphasised the need for $2.8 billion to implement the Feed Salone Project’s strategy and called for support from all stakeholders.
Hicham El Zein, Manager of Confidence Trading Company (CTC), commended the government for stabilising the exchange rate, which has significantly impacted the wholesale price of rice. He highlighted the importance of exchange rate stability in ensuring market predictability and expressed interest in investing in local rice production.
However, he urged the government to increase production and reduce the cost of local rice to enhance competitiveness
Haja Marie Bob Kandeh, President of the Market Women’s Association, called for clarity on rice pricing, noting the variations in brand and quality. She reported that some retailers are still selling rice at the wholesale price and urged the government to consider labor and rent costs in addition to transportation when determining prices.
Haja Kandeh emphasized the need for greater engagement with business stakeholders and robust monitoring to ensure the new prices benefit consumers.
Minister of Trade and Industry, Alpha Ibrahim Sesay, highlighted President Bio’s directive to address the rising costs of rice and fuel. The Ministry has finalised a pricing formula in collaboration with Oil Marketing Companies and engaged rice importers over an eight-month period.
These efforts have resulted in the reduction of the wholesale price of rice to Le800. Minister Sesay assured the public that further engagement with the Ministry of Transport would establish a retail price list shortly.
While prioritising the affordability of parboiled rice, the government is also exploring ways to reduce the cost of Jasmine rice.
