Price of Oranges and Apples Drops Sharply in Local Market

The price of oranges and red apples in the Maldivian market has seen a significant decline this week, bringing some relief to consumers after months of unusually high fruit prices. Oranges, previously sold at MVR 80 per kilogram, are now priced at MVR 33, while red apples have dropped from MVR 80 to MVR 44 per kilogram. Small shops are also selling individual oranges for MVR 3.50.

However, the price of green apples remains unchanged at MVR 63 per kilogram, with traders citing the lack of new stock arrivals as the main reason.

Traders and market observers attribute the recent price adjustments to the State Trading Organization’s (STO) decision to import a large quantity of fruits, particularly apples and oranges, in response to rising costs. Earlier this month, STO announced that it would permanently import 23 essential food items—including 10 varieties of fruits and vegetables, as well as coconuts, eggs, and chicken—in a bid to stabilize the market.

Economic Minister Mohamed Saeed confirmed that these imports would help establish a permanent solution to the issue of fluctuating food prices. He assured that from October 15, these items would be available to the public at more affordable rates.

Speaking on a podcast this week, President Dr. Mohamed Muizzu stressed that the government’s move was not aimed at interfering with private businesses but at protecting consumers from sudden price hikes. “I don’t want our citizens to suffer losses because of someone else’s actions. The government wants citizens to receive all services at the best quality. This will create competition,” he said.

The President also highlighted that wholesale food importers are being given greater access to U.S. dollars through the Bank of Maldives (BML). Supporting this, BML revealed that it has already facilitated over USD 73 million (MVR 1.1 billion) in TT transactions for foreign trade during the first eight months of 2025—surpassing the USD 69 million provided over the entirety of last year.

Despite these efforts, official statistics show that food prices remain high. The Essential Commodities Price Index (ECP) released by the Maldives Bureau of Statistics on September 3 reported that fruit prices rose by 10.20% over the past year, while oils and fats saw a 5.38% increase. Overall, food prices were 1.62% higher in August compared to the previous month, and 1.96% higher year-on-year.