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LACRA Establishment Act

The Act to Establish the Liberia Agriculture Commodity Regulatory Authority (LACRA), approved on October 8, 2014, serves as the legal foundation for replacing the Liberia Produce Marketing Corporation (LPMC). This Act empowers LACRA to regulate and promote agricultural commodity production, processing, and marketing in Liberia. It focuses on essential commodities like cocoa, coffee, and palm products, ensuring they meet international standards while fostering fair competition and protecting farmers' interests.

Key provisions of the Act include guidelines on setting transparent commodity pricing, aligning with global market trends, and offering technical support to farmers and stakeholders. It mandates LACRA to enforce regulatory compliance and collaborate with partners such as the International Cocoa Organization (ICCO) and the Inter-African Coffee Organization (IACO). The Act also provides a governance framework for LACRA's operations, addressing financial management and institutional responsibilities.

This legislation demonstrates Liberia's commitment to building a competitive and sustainable agricultural sector that benefits local farmers and contributes to economic growth. By establishing robust systems and policies, LACRA is equipped to enhance Liberia's presence in international markets while ensuring fairness and efficiency within the agricultural value chain.