The price of Kandhoodhoo chili, which stood at MVR 1,000 per kilo at the beginning of Ramadan sparking debate, has begun dropping.
1 kilo of Kandoodhoo chili was available from the market for MVR 800 last Tuesday and dropped to MVR 650-MVR 700 per kilo this Wednesday.
Traders at the local market in Male’ City attributed the drop in the market price of the chili to an increase in production and supply of chili from Th. Kandoodhoo.
They report that the increase in supply of imported chili – such as the Uganda chili – has also contributed to drive down the price of Kandoodhoo chili.
“It seemed like were wouldn’t be get chili supply. But the supply of chili is increasing now. This is why the price of chili is dropping,” said one of the traders.
The economy of the 600 people Kandoodhoo in heavily dependent on agriculture.
Farmers from Kandoodhoo report that the recent heat wave and the depletion of its underground freshwater layer ahead of Ramadan had destroyed its farms – leading to the low production of chili.
They report that many of its farms were also hit with a pest, destroying the chili produced at the farms.
“The condition of the farms is gradually improving. So it will improve the supply to a certain extent,” said a farmer.
Traders at the market expressed lack of confidence Kandoodhoo will be able to maintain the supply of chili to meet the high demand throughout Ramadan, which could lead to another price hike.
The price of Kandoodhoo chili stood at well over MVR 1,000 per kilo at the beginning of Ramadan. The high price of Kandoodhoo chili has been widely criticized by the general public. It is one of the hottest topics of debate this Ramadan, and has produced a flurry of social media memes.