State Trading Organisation (STO) has revealed that preparations are underway to bring in a shipment of coconuts due to the increase in prices in the market.
STO is working to keep the prices of commonly consumed food items stable during the holy month of Ramadan. One of the biggest price increases in the market in Ramadan was coconut sold at USD1.94. As such, STO stated that preparations are underway to bring in a shipment of coconuts as the price has not decreased in the market.
Managing Director of STO Hussain Amr said the shipment of coconuts will arrive in the Maldives on March 27. He said STO is doing its utmost to prevent the prices of commodities from rising during the Ramadan month as in other years.
STOC has imported a shipment of lemons following the sharp rise in prices in the market. Lemons are currently priced at USD5.18 per kilogram in the market. Therefore, STO imported two tonnes of lemons and has begun selling them on March 20 for USD3.89 per kilogram to keep the price of lemons from rising in the market.
Meanwhile, STO has also reduced the wholesale price of onions, eggs, and potatoes for the holy month of Ramadan The prices of these products rise in shops and markets due to high demand during Ramadan. Therefore, STO imports these items every Ramadan to provide these items at cheap prices.