By Kebba AF Touray
The Gambia’s Trade Minister, Baboucarr Joof, has linked the recent rise in commodity prices to global price volatility, citing external market fluctuations as a primary factor affecting local prices.
Minister Joof made this and other comments during a session of the National Assembly on Wednesday, March 12, 2025, in response to questions raised by Hon. Bakary Badgie, the Member of Parliament for Foni Bintang-Karanai.
Hon. Badgie had inquired about the government’s plans to manage commodity prices, particularly in the lead-up to Ramadan, a period traditionally associated with increased demand for essential goods.
With a free market economy and prices determined by market forces, Joof explained the Ministry of Trade closely monitors the availability, stock levels, and prices of essential commodities to ensure they remain accessible and affordable to the public. He emphasized that the Ministry’s role is to mitigate any unjustified price hikes.
“The recent price hikes of basic commodities are likely a reflection of global market volatility,” Joof stated. “As a net importer of basic goods, The Gambia is vulnerable to these external shocks.”
The Minister also noted that fluctuations in the value of the Gambian Dalasi against major currencies, particularly the U.S. dollar, have contributed to rising import costs, which in turn drive up prices locally. To counter these rising costs, Joof revealed that his Ministry is actively promoting the involvement of more Gambians in commodity trading.
“By encouraging Gambians to participate in commodity trading, we have managed to stabilize the price of rice in the domestic market,” he explained.
The Central Bank of The Gambia, he added, has been making efforts to stabilise the value of the Dalasi and reduce inflation, which should also help curb price increases.
Joof reassured the Assembly that the Ministry continues to work closely with various stakeholders, including the Gambia Ports Authority, to address logistical challenges.
“We are engaging the Ports Authority to ensure priority berthing for vessels carrying essential commodities, in order to avoid demurrage charges that would further raise prices,” he said.
Looking ahead, the Minister highlighted long-term strategies aimed at reducing the country’s dependence on imports.
“The Ministry is also supporting the domestic production of some essential commodities to reduce our exposure to external shocks,” Joof said.
He also underscored that the Ministry would continue to strengthen its surveillance mechanisms by monitoring stock levels weekly and maintaining regular dialogue with importers and retailers to ensure a steady supply of affordable goods.
In another line of questioning, Hon. Sulayman Saho, the Member for Baddibu Central, asked whether the Ministry had any plans to facilitate trade within local communities and markets, or “lumos.” In response, Joof outlined the Ministry’s newly finalized National Domestic Trade Strategy, which is aimed at enhancing the trade of locally produced goods within The Gambia.
“Lumos are vital to the success of this strategy,” Joof said. “To facilitate the growth of local trade, we are embarking on a lumo market modernization program.”
The Minister revealed that a readiness assessment has been carried out at 27 lumo markets across the country. As part of the initiative, the Ministry, in collaboration with the ECOWAS Commission, is refurbishing and modernising the Wellingara Lumo market in the Lower River Region (LRR) as a pilot project.
He also noted that the Ministry has partnered with GAMWORKS to develop a model design for modernised lumo markets, which will be replicated across the country.
“We’ve already begun work in Wellingara Ba, and we aim to expand to the remaining 26 lumos nationwide,” he added.
