MONROVIA, LIBERIA-National debate has intensified on the controversial Executive Order 124, placing a moratorium on the exportation of unprocessed natural rubber.
The Executive Order, issued on December 13, 2023, by President George Weah, seeks to address the decline in the natural rubber industry and accelerate local processing.
Following the moratorium, the Rubber Planters Association of Liberia welcomed the decision, while the consortium of Rubber Sector Actors of Liberia, a group of exporters and brokers took exception.
On Economic Hour Tuesday, the Chairman of the Consortium of the Rubber Sector Actors of Liberia, James Sayekeaye, appealed for a revocation of the Executive Order stressing that it deprives exporters of the leverage to bridge the pricing gap locally.
Mr. Sayekeaye said:” Farmers do not benefit from their investment due to massive drop in local price, largely determined by the processors.”
However, a local rubber exporter, Derrick Nyumah, said:” Recent rise in the production of natural rubber in the Country is partly attributed to exporters’ financial assistance to farmers who strive to expand their farms.”
