Prices lowered for 27 items at 188 shops during Ramadan: Economic Development Ministry

Ministry of Economic Development has said that 188 shops in the Maldives will sell 27 commodities at lower prices during Ramadan, a move initiated by the government.

Speaking at a press conference at Velaanaage today, Minister of Economic Development Ahmed Mohamed said that the government, through State Trading Organisation (STO), will import 27 general commodities during Ramadan.

STO has entered partnerships with 64 shops in Malé and 124 shops in other islands, to ensure sufficient supply of these commodities.

“The government can only hold prices at the same level by supplying goods according to changing demand. We believe that STO can sell the 27 commodities at lower prices throughout Ramadan. STO’s partnership shops will also distribute the goods at the same price,” he said.

The 27 commodities include milk powder, children’s foods, salt, cooking oil, tomato paste, coffee, onion, potato, egg, juice, cabbage, margarine, carrot, dhal, curry powder, and other basic food commodities.

Ahmed Mohamed said that following discussions with MIFCO and Kooddoo, the price of a tuna can case will be reduced by MVR10.

MIFCO also plans to introduce fresh tuna preserved in ice to the market during Ramadan.

“We are confident that the price of fish will remain at the same level,” Ahmed Mohamed said.

He said that the large players in the retail market had assured that they will cooperate in reducing prices during Ramadan.

The Minister also briefed on how prices have changed over the past one year. Out of 57 items monitored by the Ministry, prices of 26 items had increased, ten remained unchanged, and 21 had gone down.

STO has indicated that the shipment of products ordered in preparation for Ramadan will arrive this week.

The prices of basic food items increase by large amounts every Ramadan.