The amount of fish weighed to MIFCO by fishermen has dropped significantly this year.
According to MIFCO's statistics, 45,969 metric tonnes of fish were weighed in the first 8 months of last year, while 26,102 metric tonnes of fish were weighed in the first 8 months of this year. Therefore, comparing the two years, this is a decrease of 19,594 metric tonnes. Or a 43.2% decrease.
Looking at the fish weighing trends, no month this year has seen fish weighed at the same level as last year. Although the first three months of the year went reasonably well, the amount of fish weighed has been decreasing month by month, and has dropped significantly in the past two months. In July, 247 metric tonnes of fish were weighed, while 672 metric tonnes of fish were weighed in August.
The significant drop in fish weighing occurred during the two months when MIFCO bought fish by reviewing and setting prices week by week based on global market prices. Since the day MIFCO decided to change the purchasing price of skipjack tuna in line with the market price, MIFCO has maintained a single price up to today. MIFCO is currently working to maintain the price at no less than 16 Rufiyaa until the market price of fish improves. However, MIFCO has stated that since this relies heavily on government subsidies, it cannot be done sustainably.
"Even if MIFCO has to weigh fish at a loss at the rate of 16 Rufiyaa in this situation for the sake of fishermen, it is not something that can be done permanently without subsidies. Therefore, if the price of raw fish in the international market drops in the future, there will be no other option but to lower the purchasing price per kilo of fish," MIFCO stated.
The two months of low fish weighing coincided with a period when fishing in the Maldives was also very poor. Additionally, this was a time when bad weather caused difficulties in going out to sea, some vessels did not go fishing due to very poor catches, and some fishermen left their vessels in frustration due to delays in receiving payments from MIFCO after weighing their fish.
When speaking with fishermen regarding the drop in fish weighing, they highlighted two main issues. Fishermen and captains noted that the delay in paying bills after weighing fish to MIFCO is the biggest problem. They said that as a result, trust in MIFCO has been lost, and they no longer have the mindset of relying on MIFCO to go fishing as they did before. The second issue is MIFCO lowering the purchasing price of fish. Fishermen said that during a time when fish were not being caught and MIFCO was not paying them, suddenly lowering the price made them very frustrated and angry. Therefore, they are now looking to sell their small catch to wherever offers a good price that benefits the vessels and fishermen.
"They (MIFCO) are deceiving us. What they say and what they do don't match. They give the little money after we cry and beg. Look here girl, how many days has it been now without getting the little money even after weighing a small catch? We are now going to Gasim's place (Horizon) or Ensis. Fortunately, they are giving a good price these days," a captain said.
Regarding this issue, MIFCO says that the best course of action for MIFCO and the industry right now is to wait without lowering the price of fish until a positive change is seen in the price of fish in the international market. Furthermore, although some private factories are currently buying fish from fishermen at a higher rate than MIFCO for the amount needed for their processing, MIFCO is a company that exports 80 percent of the fish it buys as raw material, so bringing a positive change to the price of fish while the price of raw fish is dropping in the global market would not be a sustainable change. And, as things stand, MIFCO said it is not possible to manage by buying fish at a high price just enough for the Felivaru cannery.
This year has been a year where fishing has declined to an unexpectedly low level in recent long history. Due to this situation, to encourage fishermen to go out to sea, MIFCO has been providing fuel and ice on credit, working to find and clear unpaid money to fishermen, and finding ways to pay current bills within a short period.
With three months left in the year, fishermen are waiting to see what step MIFCO will take next. Fishermen are ready to go out to sea with courage as before and move forward with MIFCO if they get a good price for the fish they weigh.
