Minister for Economic Development and Trade Mohamed Saeed has stated that the government will step in if food items classified as essential are sold at inflated prices.
Speaking on the second episode of the Tharujamaanaa Eku podcast produced by the President’s Office, Minister Saeed said the President has instructed the State Trading Organisation (STO) to ensure that essential food items are available across all inhabited islands of the Maldives.
A wholesale STO shop has already been established at the Malé harbour, and a second is expected to open by Ramadan. The service will extend to all cities and islands with populations over 3,000, he explained. Minister Saeed clarified that STO will provide food items at wholesale prices, not retail, and will not disrupt small business operations.
The minister emphasised that the policy is aimed at preventing inflation on essential goods. For example, if the price of chicken eggs rises due to supply disruptions, the STO will ensure eggs continue to be available at pre-disruption market prices, he said. This is part of the broader approach that comes with designating a food item as a staple product.
Minister Saeed further explained that previously, the Maldives did not have an essential commodity index, which is now established and includes 162 monitored items. In addition to essential goods, the government is tracking “high-impact items” to ensure households can manage daily needs effectively. Prices for these items will be monitored closely, and government intervention will occur if necessary, while maintaining the principles of a free market.
On 15 October 2025, the STO announced that the prices of 23 essential products have been set according to prevailing market rates and will fluctuate based on demand. Consumers can track updates through the Ministry of Economic Development and Trade’s Agumaagu portal.
Minister Saeed reiterated that while the policy safeguards households against excessive price increases, the Maldives continues to operate as a free market economy, balancing affordability with market dynamics.
