The price of oranges in the local market and general bazaar has seen significant increase amid Ramadan.
Ramadan, the ninth month in the Islamic lunar calendar, is a period where Muslims obverse fasting during daylight hours. It is also a period where consumption rates spike across all food groups in the Maldives, especially potatoes, eggs, onions, watermelons, and oranges.
Currently a single orange is retailing between MVR 12 and MVR 15 in the open market. However, State Trading Organization (STO) has lowered the threshold by selling at stable rate of MVR 40 per kilogram, which translates to just MVR 6 for single orange.
Reports indicate this sharp incline is due to stranded orange shipments in Sri Lanka. The price of a case of oranges, previously going between MVR 250 and MVR 280 has escalated to MVR 1,150.
This price hike, according industry insiders, began manifesting even before the commencement of Ramadan.
STO has imported specializing shipments as part of the current government’s policy to regulate food prices during Ramadan. The state-owned enterprise has also assured the public that orange prices will remain available through Ramadan at a controlled price between MVR 5 and MVR 6 per single orange.
Additional to this, STO is also providing 26 essential items at subsidized prices. Among these, green apples are available at MVR 40 per kilogram, red apples at MVR 42 per kilogram.
These measures have been instrumental in preventing further inflation of prices in the most commonly consumed produce during Ramadan.
This government initiative is expected to provide substantial financial relief to the general public during Ramadan.