Coconut prices have increased in the Maldivian market.
According to local market vendors, coconuts that went for MVR 300 per bag are now sold at MVR1,600 per bag. Meanwhile, the current market rate of a single coconut is between MVR 15 and MVR 35.
Three months ago, coconut was sold between MVR 250 and MVR 300 per bag while a single coconut was sold between MVR 5 and MVR 15.
Coconuts are usually brought from all across the country, with the highest contributions made from HA. Kelaa, AA. Thoddoo and K. Kaashidhoo with Laamu atoll and Addu City made notable contributions as well.
A local vendor said that the price bump is due to the limited supply of coconuts from atolls, while another vendor said they were now importing coconuts from India owing to the limited availability in the country.
The price of coconuts is expected to go higher in the coming days ahead of Ramadan.
