In a proactive move to stabilize market prices ahead of Ramadan, the State Trading Organization (STO) has released fresh garlic into the market and adjusted the prices of onions, eggs, and potatoes. This initiative aligns with President Dr. Mohamed Muizzu’s directive to ensure essential commodities remain affordable during the holy month.
Fresh Garlic Now Available
STO has announced that fresh garlic is now available at their People’s Choice stores, priced at MVR 45 per kilogram. This addition aims to meet the increased demand for fresh produce during Ramadan.
Price Adjustments for Key Commodities
This marks the fourth adjustment in prices since STO began releasing essential items to the market under President Muizzu’s guidance. The revised prices are as follows:
- Onions: MVR 335 per sack; MVR 14 per kilogram individually.
- Eggs: MVR 350 per case; MVR 2 per egg.
- Potatoes: MVR 515 per sack; MVR 25 per kilogram.
These adjustments reflect favorable changes in market prices, ensuring consumers benefit directly from cost reductions.
Comprehensive Import Strategy for Ramadan
In preparation for Ramadan, a period characterized by increased demand for food items, STO has categorized its imports into four main groups:
- Essential Food Items: Including onions, eggs, potatoes, coconuts, and dates.
- Fresh Vegetables and Fruits: Such as garlic, ginger, lime, carrots, oranges, and cabbage.
- Processed Foods: Covering products like Nestle cream, cocoa powder, baked beans, and canned condensed milk.
- Cooking Ingredients: Encompassing sunflower oil, vegetable oil, and basmati rice.
The primary objective of importing these items is to maintain reasonable prices and ensure their availability throughout Ramadan. STO has committed to adjusting selling prices in response to market fluctuations, thereby safeguarding consumers against unjustified price hikes.
Government’s Firm Stance on Price Stability
Economic Minister Mohamed Saeed has reiterated the government’s commitment to preventing unwarranted price increases during Ramadan. He emphasized that businesses attempting to inflate prices of essential goods will face strict actions, including substantial fines and potential shutdowns. This stance is part of a broader policy, formulated under President Muizzu’s instructions, to monitor and regulate the prices of 183 essential goods, with 54 items identified as crucial for Ramadan.
Through these concerted efforts, the government and STO aim to ensure that the public has access to essential commodities at fair prices during the holy month, reflecting a commitment to consumer welfare and market stability.
