STO reduces price of onions and potatoes

The State Trading Organisation (STO) has reduced the price of onions and potatoes ahead of the Islamic month of Ramadan.

The price of onions was lowered from MVR12 to MVR10 per kilo and from MVR250 to MVR220 per bag.

The price of potatoes was lowered from MVR12 per kilo to MVR9 per kilo and from MVR250 to MVR180 per bag.

The price changes took effect today. The state-owned enterprise said it was able to reduce prices as the cost of the next shipment of onions and potatoes had changed favourably.

The price of eggs meanwhile remain unchanged at MVR1.50 per egg and MVR270 per case.

Long queues were reported outside STO shops this week following hikes in the prices of eggs, onions, and potatoes in the market.