Primex brings down price of rice

Page 72: July 3, 2008.
Story: Albert K. Salia
PRIMEX Ghana Limited has announced a reduction in the prices of its rice products in line with government’s policy to mitigate the rising food prices.
The price reduction ranges from eight to 12 per cent on all its Gino branded Thai perfumed and American rice.
It said the prices were reduced soon after President J. A. Kufuor had in a nationwide broadcast announced measures to mitigate the effects of global food crisis on Ghanaians.
The managing director of the company, Mr Annu Gupta, told the Daily Graphic last Monday that soon after President Kufuor announced the measures, the company, which markets Gino, Pomo and Jago brands of products immediately effected changes in its prices.
The reduction was also in line with the company’s policy of providing consumers with high quality products at lower prices.
He said after Parliament amended the law, the company again reduced the prices of its products.
“With the reduction, a 50kg bag of Gino Thai perfumed rice (five per cent broken) is now GH¢45, down from GH¢50 first reduction price; while the 100 per cent long grain rice (Grade B) is GH¢46 and American No. 2 rice is now GH¢58,” he said.
Mr Gupta said the 25 kg bag was now GH¢35, down from GH¢38, adding that a bag of 20 pieces of one kilogramme rice was now GH¢29.5 while a bag of 10 pieces of two kilogramme rice was GH¢28.5
He explained that although the cost of the rice abroad was increasing, the company cushioned its clients by delaying any local price increases for three to four weeks.
“Being part of corporate Ghana, we share in the suffering of Ghanaians, which is as a result of the global food crisis, and embarked upon this measure to enable the to company continue with its policy of providing quality food at the most affordable price for all,” he said.
Mr Gupta commended the government for the measures it took to alleviate the effects of the crisis on Ghanaians, saying that “the hallmark of any good government is to be sensitive to the plight of the citizens”.
President J. A. Kufuor, on May 23, 2008, announced measures to mitigate the hardships on Ghanaians resulting from the global food and fuel crises.
Following that, Parliament amended the Customs and Excise (Duty and other Taxes) Act 2008 to remove import duties on rice, wheat, yellow maize and crude vegetables for soap and food manufacture to become law and it was assented to by President Kufuor last Friday.