Liberia: Increase in the Prices of Liberia’s Staple Food Imminent Due to Rising Cost in International Freight, Fees At Freeport of Monrovia

Monrovia — FrontPageAfrica has reliably gathered that there is an imminent increase in the price of rice due to a sharp increase in cost of international freight and other increments in various fees at the Freeport of Monrovia.

Several rice importers and importers of other staple food who tipped FrontPageAfrica of the imminent increment in the price of the country’s stable food said they are being compelled to make an increment due to how exorbitant it is becoming to import.

They said their attention has also been drawn to the recent increment of fees of vessel and warehouse operation by the Association of Liberia Stacking Companies.

FrontPageAfrica Association, since their last agreement with importers in 2016, they have not imposed any increment, but there is now the need for additional charges.

The importers believe with the series of increment on almost every service provided at the Freeport of Monrovia, they would be left with no option to also increase prices of their goods to commensurate with the rising cost of importing into Liberia.

In January, APM Terminals which manages the Freeport of Monrovia, announced a 9.67 percent increment on all current charges of its services at the Free Port of Monrovia. The port operator says the increment is in line with its concession agreement with the government of Liberia which allows a 2021 tariff adjustment using predefined formula.

In February, APM Terminals began to implement the increment which sparked contention and prompted the intervention of the Legislature.