State Trading Organization (STO) has released a shipment of onions into the local market as part of efforts to stabilise prices following a supply shortage caused by adverse weather conditions.
The shipment, aimed at easing the impact of reduced imports, is now available at STO People’s Choice and STO Wholesale Centres.
According to STO, onions are being sold at MVR 15 per kilogram at its People’s Choice outlet, significantly lower than prevailing market rates. Wholesale quantities are also available at the company’s designated centres.
Retail prices of onion have surged in recent days, reaching an average of MVR 30 per kilogram, double the usual rate, due to limited supply.