Price of young coconut drops to MVR 35, expected to fall further

A vendor skinning a coconut. (File Photo/Sun/Fayaz Moosa)

Following an initial surge in costs at the onset of Ramadan, market prices for essential produce in Male are experiencing a downward trend. Young coconut prices have successfully retracted from a peak of MVR 55 to approximately MVR 35, with traders anticipating further declines as the month concludes. Similarly, high-demand items like Kandoodhoo chili have seen a sharp decrease in cost, reflecting a broader market stabilization across local vendors.

Young coconut prices have dropped to MVR 35 with further reductions expected.
Kandoodhoo chili prices have decreased significantly to the MVR 230-280 range.
Market vendors indicate a general trend of price deflation during the final ten days of Ramadan.
A wide variety of staple vegetables and fruits are currently available at competitive market rates.

The price of young coconut, locally known as Kurumba, which had skyrocketed at the start of Ramadan, is now expected to drop below MVR 35.

The price of Kurumba had been between MVR 50 – MVR 55 at the start of Ramadan. But it was available from the Male’ markets on Tuesday for MVR 35 – MVR 40.

A vendor from the local market told Sun that the price is expected to further go down.

“The price of everything is generally going down in the last 10 [days of Ramadan],” he said.

The price of Kandoodhoo chili, which had been as high as MVR 450 per kilo at the start of Ramadan, has also gone down to MVR 280 – MVR 230 per kilo.

Price of other produce: