Sierra Leone is witnessing a steep rise in food prices, particularly in the cost of rice, which has become a pressing issue for citizens across the nation.
Over the past year, local rice prices have surged by 30%, while imported rice has seen a 22% increase, according to the latest data from the Sierra Leone Market Price Bulletin.
The most significant price jumps occurred in the last quarter, with local rice prices escalating by 15% and imported rice by 13%.
The districts of Port Loko and Kambia have been hit particularly hard, with imported rice now costing SLE24 per kilogram, reflecting a staggering 50% rise.
This information comes from the quarterly Market Price Bulletin, a report produced by the Research, Assessment, and Monitoring (RAM) unit of the United Nations World Food Programme (WFP), in partnership with Sierra Leone’s Ministry of Agriculture and Food Security (MAFS).
The Bulletin provides crucial updates on the nation’s economic conditions, including the fluctuations in prices of staple foods, the terms of trade for unskilled labor, and exchange rate trends.
The sharp increase in rice prices has been largely attributed to a combination of elevated freight costs and the removal of rice subsidies in March 2024. This policy shift has, for the first time, brought the prices of imported rice in line with those of local varieties.
As rice becomes increasingly unaffordable, many households are turning to alternative staples such as cassava and its derivative products, including gari, which have also seen price hikes of 14% and 28%, respectively. In contrast, palm oil prices have decreased by 11% over the past year.
The economic strain is further highlighted by the decline in the Terms of Trade (ToT) for unskilled workers, which measures their purchasing power.
In April 2023, a monthly minimum wage of 800 SLE could buy 44 kilograms of imported rice. By June 2024, that amount had dropped to just 34 kilograms.
Despite the relative stability of the Leone against the US Dollar, which has depreciated by 8% over the past year, Sierra Leoneans continue to struggle with the rising cost of food, driven by global inflation and local price pressures.
This ongoing volatility in food prices poses serious challenges to both economic stability and food security in Sierra Leone, with many households spending a significant portion of their income on basic staples.
The situation underscores the urgent need for effective policy interventions to address the growing issue of food insecurity and to support the livelihoods of the nation’s citizens.
