The State Trading Organisation (STO) has been making concerted efforts to provide essential food items at affordable prices during the holy month of Ramadan.

In preparation for the fasting period, the organisation took proactive measures by stocking up on coconuts to ensure market stability. Even before the commencement of Ramadan, STO secured a stock of coconuts, making them available for sale at reasonable prices. However, once the initial supply was exhausted, the market saw an unexpected rise in coconut prices, with the cost of a single coconut surpassing MVR 40.

To prevent further price increases, STO has introduced a fresh shipment of coconuts to the Maldives. According to an STO official speaking to MM Online, the new stock has been released into the market through STO People’s Choice outlets. These coconuts are currently being sold at MVR 20 per kilogram, with the cost of a single coconut ranging between MVR 7 and MVR 9.

As part of its commitment to ensuring the availability of essential goods during Ramadan, STO has undertaken special arrangements in collaboration with the government.

In line with government recommendations, STO has pledged to closely monitor market fluctuations. Should any commodity experience an abnormal price hike, the organisation has assured that swift regulatory measures will be implemented to keep costs under control.