Liberia fines company $25,000 for hiking egg price

Liberia has given a leading foreign investment firm 72 hours to pay a $25,000 fine for hiking the price of chicken eggs.

According Liberia's Daily Observer newspaper, Fouani Brothers Corporation raised the prices of eggs from $35.89 per carton of 360 eggs to $70 per carton.

The BBC correspondent in Liberia says the fine, announced by Minister Wilson Tarpeh, has received a mixed reaction, with some people hailing it, while others call it too harsh and heavy.

Our correspondent says the business entity in trouble is one of the unlucky ones, as arbitrary price increases of basic commodities is a common practice, as Liberia does not have a system to regulate the market.