Head of the Presidential Secretariat and Cabinet Secretary Dr Roger Luncheon says that Cabinet has endorsed the adoption of some limits on rice exports so as to ensure adequate stocks are available for domestic consumption.
Speaking at his post-Cabinet press briefing held at the Office of the President yesterday, Dr Luncheon said that Cabinet has noted that in other countries, export levies and restriction on exports on identified commodities have been implemented, some with negative reactions.
Dr Luncheon said that Cabinet has deepened its approach as predictions suggest a sustained period of price rises in many important commodities worldwide. He said that a task force has been established across sectors to analyse the situation, particularly pricing, examine options for intervention and make recommendations to Cabinet.
Rice prices on the local market have skyrocketed since last year-end and a number of factors are said to be responsible for this, among them international demand, the price of inputs and the adverse weather.
