Business

STO: Maldives will not face shortage of staple goods

Managing Director of State Trading Organization (STO), Ahmed Shaheer has provided assurance Maldives will not face a shortage of essential goods.

The decision by the Indian government to reduce the quota of essential goods exported to the Maldives for the year 2018-2019 has sparked concern about a possible shortage of essential goods in the Maldives.

While STO, the country’s biggest importer and distributor of essential goods assures the decision will not result in a shortage, “Sun” has been informed the majority of the essential goods used in the Maldives is not imported into the country from India.

The essential goods imported from India make up for a small percentage of the total import of essential goods.

The quota for essential goods by India is part of a bilateral trade agreement between Maldives and India in 1981.

Sources from Ministry of Trade reported to The Wire that the Indian government finalized the quota for the year 2018-2019 based on the average utilization by the Maldives in the last three years. They said the Indian authorities calculated the actual amount utilized by the Maldives from the quota over the last three years.

The Indian government previously allocated the quota based on whatever amount the Maldivian government proposes.

The Wire reports the quota for essential goods has been reduced from:

Potatoes: 11,714.45 metric tons to 5,308.70 metric tons

Onions: 19,466.36 metric tons to 9,892.03 metric tons

Rice: 67,640.24 metric tons to 24,581.07 metric tons

Wheat flour: 59,442.17 metric tons to 946.12 metric tons

Sugar: 11,706.30 metric tons to 338.47 metric tons

Pulses: 122.23 metric tons to 31.59 metric tons

Eggs: 232,805,000 metric tons to 111,809,090 metric tons

Full details are available at the link below:

Source URL: Sun.mv

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