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MOCI Warns Businesses against Hoarding, Hiking Onion Price

Daily Observer/Maximilian Kasseh, Jr.
Wilson Tarpeh, Minister of Commerce
Wilson Tarpeh, Minister of Commerce

MONROVIA,LIBERIA-The Ministry of Commerce and Industry, (MOCI) said it has received information on an alleged shortage of onion on the Liberian market, a situation that is contributing to hoarding and hiking of onion price on the market.

“We want to inform the general public and consumers that there is an adequate supply of onion on the Liberian market as it is being speculated,” the ministry said in a statement issued on Monday.

“Those engaged in price hiking of onions must stop, as the price of onions is US$6.00 or its equivalent in Liberian dollars,” the ministry said.

The ministry has called on businesses involved in hoarding and hiking the price of onion to desist from such unscrupulous behavior as the act is a violation of the Competition law of Liberia, which provides penalty ranging from US$1.00 to US100,000.00 as a fine, the Ministry said.

In the ministry’s mandate, “We regulate all prices of goods on the Liberian market for the benefit of both the consumers and the sellers. A consignment of about thirty containers of onion is expected to arrive in the country Friday, August 3, 2018.

The ministry of Commerce and Industry remains committed in ensuring that the basic commodities are available and affordable within the commerce of Liberia.

The release said, the Ministry has further instructed the inspectorate division to keep surveillance on the sale of onions in the various markets around the country to ensure that those involved stop or be fined.

Meanwhile, the Ministry is appealing to the public to report anybody who is found hiking the price of onions or hoarding the product and other basic commodities on the market.

The numbers to call are: on Lonestar Cell MTN 9911 or on Orange 6624

 


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