In a move to stabilize the rising cost of essential goods, the State Trading Organisation (STO) has begun selling lemons at MVR 40 per kilogram, significantly undercutting current market prices.
Lemons have been retailing between MVR 65 and MVR 80 in local markets, with prices reaching as high as MVR 100 per kg last week. The STO’s pricing offers a more affordable alternative, reducing costs by at least MVR 15 per kilogram compared to prevailing rates. The lemons, imported from India, are now available both for retail and wholesale purchase.
For wholesale buyers, STO is offering a five-kilogram box for MVR 145, with further discounts available for bulk purchases. Those purchasing more than five boxes will receive each at a reduced price of MVR 135 per box. Wholesale lemons are available at the STO warehouse in the Industrial Village, while retail customers can purchase them from STO People’s Choice outlets.
STO Expands Affordable Product Offerings
Alongside lemons, STO has also introduced other essential food items at reduced rates. Among them, coconuts are now available at MVR 5 per piece, while onions are priced at MVR 16 per kilogram, both lower than current market rates.
As part of its Ramadan supply strategy, STO has announced plans to introduce 24 essential items at controlled prices, categorized as follows:
- Basic food items: Onions, eggs, potatoes, coconuts, and dates.
- Vegetables and fruits: Garlic, ginger, lime, carrots, oranges, cabbage, chili, guava, watermelon, mango, passionfruit, and cucumber.
- Processed foods: Nestlé cream, cocoa powder, baked beans, and condensed milk.
- Cooking ingredients: Sunflower oil, vegetable oil, and basmati rice.
Meanwhile, the Ministry of Economic Development and Trade has announced that it will closely monitor the prices of 134 essential goods to prevent shortages or unexpected price hikes during Ramadan. The ministry assured that if any essential item runs out or becomes overly expensive, STO will intervene to regulate and stabilize prices by introducing additional supply into the market.
The latest initiative by STO comes at a crucial time when demand for food items typically increases ahead of Ramadan. By ensuring stable prices and availability, STO aims to ease the financial burden on consumers while curbing market inflation.
