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In a move to address rice pricing and provide relief amid global economic challenges, the Government of Sierra Leone (GoSL) has established a new pricing formula for rice and wholesale price reduction.
The agreement was reached on January 6, 2025, during a high-level meeting involving the Chief Minister, Ministries of Finance, Agriculture and Food Security, Trade and Industry, and the Majority Leader in Parliament, alongside prominent rice importers.
Effective January 7, 2025, the wholesale price of parboiled rice will be reduced to NLe 840 per 50-kilogram bag, with a further reduction to NLe 799 per 50-kilogram bag set to take effect on February 14, 2025. The new pricing formula, developed through on-going technical engagements, will be updated periodically with input from the GoSL and major importers.
