The State Trading Organisation (STO) has announced that wholesalers can now import coconuts through STO, as part of its efforts to stabilise food prices during Ramadan.

In a press release, STO stated that the initiative was launched in response to the sharp rise in coconut prices, which have increased to between MVR 40 and MVR 60 per kilogram in the market, while STO has been selling coconuts at MVR 20 per kilogram. To meet growing demand, STO is also issuing additional stocks of coconuts.

To further control market prices, STO has pledged to import as much coconut as required by traders, ensuring that supply meets demand. The company aims to assess the current market demand and adjust supply accordingly to prevent price fluctuations.

STO stated that this service is designed to ease challenges related to foreign exchange and import difficulties, while also ensuring that businesses and the general public have uninterrupted access to coconuts. The company assured that the initiative will support local businesses without disrupting the market.

Wholesalers interested in purchasing coconuts through STO can contact STO People's Choice at 3012575 or send a Viber message to 7291124. Stock will be delivered every 10 days, with payments required upon receipt in Maldivian Rufiyaa.

In the past, STO has implemented similar measures, including addressing the onion shortage between 2023 and 2024 in the Maldives.