27.8 million MVR paid to 264 vessels that sold fish to MIFCO last week

Statistics from the Maldives Industrial Fisheries Company (MIFCO) show that 27.8 million MVR was disbursed for fish purchased from vessels last week.

Although the amount of fish purchased by MIFCO earlier this month was low due to fewer vessels going out fishing and poor fishing conditions caused by the strong Southwest Monsoon, fishing has improved over the past two weeks, and the amount of fish weighed to MIFCO has increased significantly.

According to MIFCO's statistics, 27.8 million MVR was disbursed for 2,020.15 metric tonnes of fish purchased from 264 vessels last week, while 14.4 million MVR was disbursed for 1,094 metric tonnes of fish purchased from 191 vessels the previous week. Comparing the two weeks, this is an increase of 13.4 million MVR.

Last week, MIFCO disbursed the highest amount of money on Thursday. On that day, 5.2 million MVR was disbursed for fish purchased from 39 vessels.

In accordance with the pledge of President Dr. Mohamed Muizzu, payments for fish sold by fishermen to MIFCO are being disbursed regularly within 48 hours, which has increased trust in MIFCO and significantly increased the amount of fish sold to MIFCO by vessels. Many vessels that previously sold fish to private companies have also now started selling fish to MIFCO.