News

STO slashes staple food prices

State Trading Organization Plc (STO), on Sunday, reduced the wholesale and retail prices of onion, eggs and potato.

One-kilogram of onions, which was being sold for MVR 8 earlier has been reduced to MVR 7 and an onion sack which was sold for MVR 170 earlier is now being sold at MVR 140.

One-kilogram of Potato which was being sold for MVR 10 is now being sold at MVR 9 and a sack of potato which was sold for MVR 220 has been reduced to MVR 190.

A single egg is being sold at the same price; however, the price of one whole case of egg is now at MVR 260; it was previously at MVR 270.

Speaking at a press conference, the Managing Director of STO, Ahmed Shaheer said that these prices are fixated only until the end of Ramadan.

STO also reduced the prices of petrol and diesel to MVR8.44 per litre on Sunday.