Kandoodhoo farmers see profits from prized chili drop from MVR 50,000 to MVR 10,000

The price of the prized Kandoodhoo chilis dropped in Ramadan this year, with farmers from Th. Kandoodhoo reporting a sharp decline in profits - from MVR 50,000 last year to MVR 10,000 this year.

The plight of Kandoodhoo farmers echo a similar experience by farmers and fruit and vegetable vendors who all reported a sharp decline in earnings compared to previous Ramadans.

Kandoodhoo chilis are considered a staple in Maldivian cuisine. But Solih Hassan, who has been involved in the chili business for over 20 years, said that he experienced a huge decline in earnings this Ramadan. He said that this was because of a drop in the prices of chili in the traveler’s market in the capital.

Solih said that he earned around MVR 50,000 in profits in Ramadan last year, but just MVR 10,000 this year.

“I’m a big farmer.  I earned around MVR 50,000 last year. The revenue has declined drastically. Farmers would have earned around MVR 10,000 [this Ramadan]. Those who trade more widely man I could have earned around MVR 15,000 after expenses,” he said.

Kandoodhoo had supplied greater quantities of chili to Male’ this year than during previous Ramadans with around 300 kilos of chili per day.

Solih said this is significantly higher than around 100 kilos every three days during previous years.

Solih believes the decline in revenue is indicative of an overall slowdown in economic activity.

Vegetable and fruit sellers reported a steep decline in their revenue in Ramadan this year, with vendors who usually earn MVR 30,000 daily earning as low as MVR 4,000.