MIFCO Raises Skipjack Tuna Purchase Price to MVR 21 per KG

Maldives Industrial Fisheries Company (MIFCO) has officially increased its purchase price for skipjack tuna to MVR 21.00 per kilogram, effective today, August 29, 2026.

MIFCO has notified boat captains that the updated rate will apply across all primary industrial complexes and deployed carrier vessels starting today. Under the revised rate, skipjack tuna will be procured at MVR 21.00 per kilogram at the Kooddoo Fisheries Complex (KFC) Jetty, Addu Fisheries Complex (AFC) Jetty, and Felivaru Fisheries Complex (FFC) Jetty, alongside collection vessels Randhi-20, Randhi-23, Randhi-25, Randhi-29, and Kalaminja-401.

Alongside the price adjustment, MIFCO released its daily port plan and vessel positioning strategy for today, targeting a total procurement volume of 442.0 metric tons (MT) across northern, central, and southern fishing grounds:

• Kooddoo Fisheries Complex (KFC Jetty): 200.0 MT

• Addu Fisheries Complex (AFC Jetty): 50.0 MT

• Felivaru Fisheries Complex (FFC Jetty): 30.0 MT

• Randhi-20 (Stationed at M. Kolhufushi / KOG): 38.0 MT

• Randhi-23 (Stationed at R. Maduvvaree): 27.0 MT

• Randhi-25 (Stationed at GDh. Thinadhoo): 27.0 MT

• Randhi-29 (Stationed at L. Maamendhoo): 45.0 MT

• Kalaminja-401 (Stationed at Felivaru / FFC): 25.0 MT

Background & Pricing Context

• Previous Benchmark (June 2026): MIFCO had previously adjusted its purchase rate to MVR 20.00 per kilogram in mid-June 2026, up from the earlier MVR 18.00 floor, aligning with dynamic market conditions and government commitments to maintain fair compensation for local fishermen.

Current Upward Revision
The latest MVR 1.00 increase to MVR 21.00/kg reflects ongoing supply-demand dynamics during current seasonal catch cycles, ensuring MIFCO's collection points remain competitive against private buyers while providing direct relief to fishing vessels operating across the northern, central, and southern atolls.