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.


STO controls price of potatoes, onions and eggs

The state wholesaler has set price controls on eggs, potatoes and onions ahead of the Islamic month of Ramadan.

Potato and onion sacks are sold at MVR250 while the price of an egg case is set at MVR270.

Speaking to local media, State Trading Organization (STO) official Fathimath Aashan said a kilo of onions and potatoes will be sold at MVR12, and an egg will be sold for MVR1.50.

THe STO sells staples at reduced prices for Ramadan, as prices tend to double or in some cases triple.

The first day of Ramdan falls on June 18.

STO has also started rationing potatoes, onions and eggs. Each individual can only purchase one egg case at a time and a maximum of three kilograms of onions and potatoes.