Faced with the volatility of food prices, the Democratic Republic of the Congo has set up a market surveillance system to fight against the retention of goods and illicit pricing practices, announced Vital Kamerhe, Deputy Prime Minister and Minister of the national economy. This decision was taken during the 106th meeting of the Council of Ministers, which was held on July 28, 2023 in Kinshasa.
The objective of this strengthening of the surveillance system is to dissuade traders from practicing illicit prices and withholding stocks, which negatively impacts domestic prices. Missions will thus be carried out across the country to monitor the economic ecosystem and prevent these practices.
In addition, anticipatory and adaptation measures have been taken to diversify sources of wheat flour supply and promote the development of a wheat agricultural sector. This will reduce the country’s dependence on imports and secure the supply of foodstuffs.
In this context, the Deputy Prime Minister also underlined the importance of the operationalization of the Economic Regulation Fund (FOREC), created in 2008. This fund will play an essential role as a tool for anticipation and intervention to stabilize prices and prevent shortages and disruptions in supply.
Through these measures, the Democratic Republic of the Congo hopes to control food price volatility and ensure the country’s economic stability. The Congolese government is thus part of a process of development and emergence, by taking sectoral measures to meet the challenges it faces.
It is important to emphasize that these initiatives aim to support the population by ensuring equitable access to food at fair prices, while encouraging the development of local agriculture to strengthen the country’s food self-sufficiency