STO releases new coconut shipment to stabilise prices
A fresh batch of imported coconuts had arrived in the Maldives and would be available for sale starting Wednesday night.
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Maldives State Trading Organisation (STO) launched a new shipment of coconuts to the market Wednesday night in an effort to control rising coconut prices.
The price of coconuts has been soaring in recent weeks due to a supply shortage. Despite a previous STO shipment intended to stabilise prices, the market saw another increase once supplies ran out. Some vendors in the local market attributed the high prices to the scarcity of coconuts.
"Now there is no coconut at all. It is so expensive," one stallholder said, highlighting the ongoing supply issues.
An STO official confirmed to Atoll Times that a fresh batch of imported coconuts had arrived in the Maldives and would be available for sale starting Wednesday night.
"Coconuts will be released to the market tonight. They will be sold at the same price as before, MVR 12 per kg," the official stated.
