The price of coconuts has observed a significant bump, from MVR 300 per sack to a soaring MVR 1,600 per sack.
About three months ago, a sack of coconuts was sold for between MVR 250 and MVR 300 per sack, and a single coconut was sold for MVR 5 to MVR 15.
The price of a single coconut is currently between MVR 15 and MVR 35 at the local market in Malé. According to a local vendor, the price increase was caused by a shortage of coconuts from the atolls.
Coconuts are bought from across the country and sold at the local market in Malé. The highest contributions were reported from Haa Alifu atoll Kelaa, Alifu Alifu atoll Thoddoo, and Kaafu atoll Kaashidhoo, with notable contributions from Laamu atoll and Addu City.
Meanwhile, another local vendor said that they have begun importing coconuts from India, owing to the limited availability of coconuts from the atolls. Despite coconuts being imported from abroad, the retail and wholesale rates remain the same. The vendor also said that the demand for coconuts has risen ahead of Ramadan.
Whilst numerous vendors indicated that prices will likely fall to existing levels after Ramadan, they will not return to the levels at which coconuts were sold three months ago.
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