Govt monitors prices of 141 essential food items for Ramadan
If a price increase is detected, officials will analyse the cause and intervene if necessary.
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The Ministry of Economic Affairs has announced a comprehensive plan to monitor and regulate the prices of 141 essential food items during the month of Ramadan.
The decision was revealed at a press conference held by the President’s Office on Tuesday, outlining efforts to prevent inflation and ensure affordability for the public during the holy month.
According to Nashwa Badheeu, Consultant at the Ministry of Economic Affairs, the ministry will categorise the 141 essential commodities into three groups:
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Basic cooking and food preparation items: 93
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Fruits and vegetables: 38
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Fish and seafood: 10
Among these, 32 items have been identified as critical and will be monitored closely to prevent sudden price hikes.
The selection of basic food items is based on four key criteria:
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Classification as ‘essential type’ by relevant external organisations.
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Inclusion in the Consumer Price Index.
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Data on import and consumption trends.
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Importance to public health and household consumption.
The ministry will conduct regular visits to local markets and shops across the country to track price changes. If a price increase is detected, officials will analyse the cause and intervene if necessary.
"For instance, if a basic commodity's price rises without a valid reason, the ministry will take corrective measures," Nashwa stated.
The government has previously taken similar actions, such as addressing the sharp rise in onion prices last December due to reduced imports. The State Trading Organisation (STO) was mobilised to import additional onions, stabilise supply, and bring prices down. Similar measures were also taken for carrots and lemons.
To further maintain price stability during Ramadan, the ministry will:
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Identify and ensure the availability of essential Ramadan food items through STO.
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Increase storage capacity and stockpile basic food items.
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Address disruptions in the international supply chain.
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Assist private entrepreneurs in importing goods efficiently.
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Establish temporary markets in Male and Hulhumale to ease access to essentials.
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Ensure adequate stock levels in STO branches across 13 islands.
A special reporting system will be introduced to inform the public of any significant price fluctuations. If price hikes occur without justified reasons, authorities will investigate and take necessary action.
