Ministry of Economic Development Takes Action To Control Staple Food Prices In The Country

On Tuesday, the Ministry of Economic Development has made an announcement revealing their decision to control the prices of staple foods in the country: rice, sugar & flour. This is being done so in accordance with the Consumer Protection Act which was ratified in August 2020 that serves to delineate the rights of consumers when purchasing goods and services which also stipulates measures that can be taken to protect these rights.

The Ministry dictates the controlled prices as follows.

Normal white rice – MVR 4.80 per kg
Normal white sugar – MVR 4.82 per kg
Normal flour – MVR 3.80 per kg

They further detail that in consideration of the cost of transport and services rendered during shipping the goods – aforementioned prices can be raised by these amounts.

North (HA, Hdh and Sh Atolls) – MVR 1.02
Central (N, R. B, Lh, K, AA, Adh, V, M, F, Dh, Th Atolls) – MVR 0.82
South (L, GA, Gdh, Gn, S Atolls) – MVR 1.21

The Ministry also notes that they will be taking action against any party who continues to charge a higher amount than what is set in accordance with the provisions of the Consumer Protection Act. 

(Photo: STO)