STO reduces price of onion ahead of Ramadan

State Trading Organization (STO) has reduced the rate of onions ahead of the holy month of Ramadan.

The organization announced the rate reduction in a statement on Thursday.

According to STO, the rate of a kilo of onions has been reduced from MVR 20 to MVR 17.

Meanwhile, a sack of onions, previously available for MVR 450, is now available for MVR 320.

STO is also now offering bulk purchases of 10 sacks of onions at the rate of MVR 310 per sack, and bulk purchases of 20 sacks of onions at the rate of MVR 300 per sack.

The market price of onions – a staple in Maldivian cuisine - had skyrocketed in December – with the price of a sack of onions rising as high as MVR 900.

The price reductions come ahead of Ramadan next week – a month which traditionally sees a rise in consumption of staples.