A bag of rice to be sold at 840 New Leones as agreed between rice importers and the trade ministry

A bag of rice will retail for 840 New Leones, under the agreement reached by the commerce ministry and rice importers.

It was decided to set the retail price of a bag of rice at 840 New Leones after discussions between the Ministry of trade and Industry, and rice importers. This agreement is the result of a determined attempt to maintain pricing stability and guarantee customer affordability in the face of economic difficulties. 

The government hopes to reduce inflationary pressures and advance food security by setting a fixed price. This program demonstrates a dedication to supporting economic stability and meeting public needs. In the end, the cooperation between public officials and private industry participants aims to reduce costs and improve accessibility to necessities for the good of all citizens.

The public is officially informed by the Ministry of Trade and Industry that a resolution to the rising cost of rice has been reached after lengthy negotiations with rice importers. The general public will get 50 kilogram bags of parboiled rice at a wholesale price of SLE 840.00, per the approval of the importers. The rising concerns over this staple food item's affordability have prompted this move.

Together with rice importers, the Ministry of Trade and Industry keeps a close eye on international prices, freight charges, local transportation costs, and other factors that may be contributing to the recent spike in rice prices. By maintaining constant observation, consumer interests are protected and a proactive response to market changes is ensured. 

In order to maintain the agreed-upon price, the Ministry reiterates its commitment to working closely with rice importers. Retailers are therefore strongly advised not to charge more than SLE 900.00 for a 50 kilogram bag of parboiled rice, as stated in the specified price ceiling. The objectives of this policy are to preserve affordability for consumers, reduce inflationary pressures, and preserve price stability. 

The Ministry aims to create a robust and fair market environment that guarantees the continuous supply of necessities at fair rates by encouraging openness and collaboration amongst stakeholders. By means of consistent cooperation and efficient governance, the Ministry works to advance economic stability and improve the well-being of the public at large.