In an effort to tackle rising coconut prices during the holy month of Ramadan, the State Trading Organization (STO) has released a new shipment of coconuts into the Maldivian market. This move comes as the price of coconuts has surged, with the cost of a single coconut reaching over MVR 40 due to the increased demand during the fasting period.
The latest shipment began distribution across the country on Wednesday evening, with the primary goal of curbing the soaring prices and making the commodity more accessible to consumers.
With the latest shipment now in circulation, STO has also announced plans to import additional coconut supplies in the coming days to ensure a steady and affordable supply in the market.
At the Greater Malé travelers’ market, small coconuts are being sold for MVR 25 per piece, with some reaching as high as MVR 40. These inflated prices have sparked concern among consumers, as the cost of basic food items rises during Ramadan.
In addition to coconuts, other essential goods like onions have also seen price hikes. At the start of Ramadan, onions were priced at MVR 15 per kilogram, but this has already climbed to MVR 20 per kilogram in just five days.
In response to these challenges, STO had previously taken steps to provide affordable prices for high-demand food items such as coconuts and onions, ensuring that consumers can manage their expenses during this time of increased demand.
The organization has reiterated its commitment to maintaining reasonable prices for essential food items throughout Ramadan, as part of its ongoing efforts to support the public during this busy and sacred period.
