Bridgestone Halts Liberia Rubber Purchases as Prices Raised.

The article discusses Firestone Liberia LLC's decision to halt rubber purchases from farmers following a government-mandated price increase for growers. The Liberia National Rubber Pricing Committee set the new price at $574.06 per ton, which is 15.3% higher than what Firestone currently pays. Firestone, a subsidiary of Bridgestone Americas Inc., argues that a uniform pricing model does not account for the diverse operational conditions and social obligations it has, such as education and community development. The company plans to engage with the committee to establish a national price that supports a viable local rubber industry, which is crucial as rubber represents a significant portion of Liberia's export revenue. [Extracted from the article]