Global prices of food items on the rise- Ministry

Ministry of Trade and Economic Development has revealed that prices of food item are on the rise in world markets. Director General of Ministry of Trade Usman Shakir speaking to Miadhu said the main reason for the global increase in consumer goods is due to the high cost of fuel and the devalued dollar. He said this has led to a reduction in the production and has resulted in reduced opportunities to increase agricultural produce. He said due to diminished opportunities for the best use of the modern facilities, production of goods and amount of agricultural produce has drastically reduced.

He said food items are mainly imported to Maldives from countries like India, Thailand, Dubai, Indonesia, Malaysia and Singapore. He noted that if the agricultural production is not increased to meet the demands of the increasing population, it will lead to high costs as well.

Usman revealed that not enough goods are being imported due to problems faced with warehousing. He noted that as some food items cannot be stored for longer periods it also complicates the issue.

Director General Usman revealed that high global prices of food items are of major concern to country like Maldives. He revealed that prices in the market are on the rise and that the prices may not come down in the near future