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Ivory Coast, Mali Suspend Rice-Import Taxes to Keep Prices Low

Ivory Coast suspended taxes on imported rice in a bid to prevent consumer prices from rising, while neighboring Mali extended a similar subsidy.

Ivory Coast scrapped import tariffs on rice for three months, a measure that will cost the government 7 billion CFA francs ($13 million), spokesman Bruno Kone told reporters in Abidjan, the commercial capital, today.

The West African nation consumes 1.6 million metric tons a year, while it produces only 600,000 tons, he said.

Mali extended a subsidy on import taxes for the staple food by two weeks until Aug. 20, Commerce Minister Ahmadou Toure told state broadcaster Radio Mali today.

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