Business

Produce, goods bump prices as Ramadan draws to end

Sales prices on several items sold from the busiest trade point in the capital - the local market - has bumped significantly as the Muslim sacred month of Ramadan draws towards its end.

The top item during every Ramadan in Maldives; the watermelon has witnessed an initial selling price between MVR20 to MVR35 when the ninth Islamic month began, but the price has since hiked between MVR35 to MVR40.

Meanwhile locally produced habanero chilies are sold between MVR50 to MVR60 with lettuce going at the market selling rate of MVR280 per kilo.

Local vendors attribute the rise in price of such items towards the scarce availability of the products; additionally the demand curve is pressing hard against the supply.

Unlike every Ramadan in the past, the local market prices on most items have been hiking in 2018 as the month ends.