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Wednesday, June 26, 2024

Liberian Farmers Optimistic After Lifting of Ban On Unprocessed Rubber

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Liberian farmers have welcomed the lifting, in Might 2024, of a controversial six-month ban on unprocessed rubber exports. The Consortium of Rubber Sector Actors of Liberia (CORSAL), a robust voice for varied stakeholders throughout the trade, expressed its deep appreciation to President Joseph N. Boakai for this resolution and outlined the constructive adjustments it has introduced.

CORSAL’s chairman, James W. Sayekea, in a press release launched on June twenty third, lauded the President for his “farsighted and nationalistic resolution”, aimed toward empowering Liberian individuals throughout the rubber sector. The ban, imposed by former President George M. Weah in November 2023, had brought about important hardship for a lot of Liberians who rely on the rubber commerce for his or her livelihood.

A Booming Market and Higher Practices

Sayekea outlined a number of constructive developments which have emerged because the lifting of the ban. In keeping with him, elevated competitors between unprocessed rubber exporters and concessionaires has sparked a value battle, driving up rubber costs for farmers by a big 10% – even exceeding the worldwide market improve. This interprets to a much-needed monetary enhance for Liberian rubber farmers, lots of whom had been struggling to make ends meet underneath the earlier administration’s insurance policies.

Moreover, he continued, concessionaires have deserted numerous unfavorable practices that had beforehand burdened farmers. The elimination of inflexible promoting schedules, the place farmers had been restricted to promoting their product at particular instances, provides better flexibility. Moreover, concessionaires at the moment are gathering rubber instantly from farms, considerably decreasing transportation prices for farmers. This, he says, not solely saves them cash but additionally cuts down on post-harvest losses.

CORSAL additionally highlighted the return of “keen vendor, keen purchaser” practices, a precept they strongly advocate for. This market-driven strategy permits farmers to barter the sale of their product instantly with patrons, fostering a extra clear and doubtlessly extra worthwhile surroundings for them.

Regulation, Income, and A Processing Dream

The consortium acknowledged its dedication to making sure a well-regulated commerce surroundings. Measures are being applied to ensure that solely approved people and entities with legitimate licenses take part within the unprocessed rubber commerce. This ensures the Liberian authorities receives acceptable taxes (together with the 4% Common Obligation Levy and RDFI charges) from exports, shoring up public coffers.

Wanting in direction of a extra self-sufficient future, CORSAL stays devoted to establishing and working Liberia’s first industrial rubber processing plant. This bold initiative has the potential to rework the Liberian rubber trade. By permitting Liberians to course of their rubber into higher-value merchandise like TSR 10 and 20, Liberian actors throughout the sector would be capable to seize a better share of the income.