STO controls onion price at MVR 20 per kg

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Photo: Mihaaru

State Trading Organization (STO) has imported onion shipments to cull the price increment of the commodity owing to high demand.

STO said it had imported 4,500 sacks of onions in its first shipment, which would be sold through local vendors.

The largest state-owned enterprise (SOE) instructed specifically not to sell above the ceiling price of MVR 20 per kilogram. It had demanded vendors follow this directive when selling to consumers.

STO said it decided bringing the bulk shipment to stabilize the market until the supply shortage of onion is resolved. The company pledged on maintaining regular supply of onions until the issue is sorted completely.

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