Agriculture constitutes a substantial 31 percent of Liberia's real gross domestic product (GDP), underscoring its pivotal role in the economy.
According to a World Bank report on the Liberian economy, rice consumption has shown a steady annual increase of 4.6 percent over the past 15 years, culminating in 560,000 metric tons in 2021. Citing data from the Food and Agriculture Organization (FAO), the report positions Liberia as the fifth-highest consumer of rice in West Africa and the seventh-highest in Sub-Saharan Africa. Notably, rice comprises over 20 percent of total food consumption, provides nearly half of the calorie intake for adults, and accounts for approximately 15 percent of the average household's overall expenditure in the country.
Liberia's per capita annual rice consumption stands at 116.5 kilograms, in contrast to the West African average of 84.5 kilograms per capita. Furthermore, excluding Guinea, Sierra Leone, Guinea Bissau, and Côte d’Ivoire, Liberia emerges as the fifth largest consumer of rice in West Africa—surpassing Nigeria, Ghana, and numerous other Sub-Saharan African nations.
Given these compelling statistics, it is imperative, in the interest of national self-reliance, that we shift our focus towards bolstering rice production to match our consumption. This shift would mean a reduction in the annual expenditure of over $300 million on imports. The potential for substantial investments in the rice sector is evident, especially given the established local demand. Prospective investors would find an untapped market, making it a promising venture. Moreover, redirecting the savings from reduced rice and foodstuff imports towards other sectors holds significant promise.
While government investment is crucial, private sector support is equally essential for the growth of the rice cultivation industry. However, achieving rice self-sufficiency remains a distant goal, especially when considering the sector's current contribution to our GDP.