Onion prices has surged to MVR 50 per kg due to supply shortages.
Onion prices has surged to MVR 50 per kg due to supply shortages in the local market.
Suppliers reveal that the price of a sack of onions ranges from MVR 600 to MVR 750 in the market today. Some wholesalers are selling sacks of onions for between MVR 800 and MVR 1,000.
Meanwhile, the price for a kilo of onions currently stands between MVR 45 and MVR 50.
Previously, the cost for a sack of onion stood between MVR 300 and MVR 400.
Onion prices surged at this time last year due to supply shortages, but even then, a sack of onions did not exceed MVR 500. This current increase marks one of the highest onion prices surges in the Maldivian market to date.
Onion suppliers attribute the price increase to challenges faced by India in meeting the demand for onions.
Three cargo vessels loaded with onions are typically shipped to Maldives from India each week.
Maldives Port Limited (MPL) said that onions are being released to the market starting today. A total of 6,280 sacks of onions from two vessels; 2,980 sacks from the "Blooha" and 3,300 sacks from the "Niumath II" will be distributed today. MPL also noted that another vessel, carrying 3,300 sacks of onions, is scheduled to arrive from India on Sunday.
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