MIFCO Increases Price of Canned Tuna in Oil

The Maldives Industrial Fisheries Company (MIFCO) has changed the price of canned tuna.

MIFCO stated that with the price change, starting today, a can of tuna in oil is being sold for MVR 18.50. Previously, the company sold a can of tuna in oil for MVR 17.50. This represents an increase of MVR 1.

With this change, a case of canned tuna in oil will be sold for MVR 800, MIFCO said.

MIFCO changed the price of canned tuna due to the change in oil prices in the global market following the unrest in the Middle East, which has significantly increased the cost of producing canned tuna. MIFCO stated that oil, which was available for MVR 11.57 per litre before March, is now acquired by MIFCO for MVR 14.32.

Although MIFCO's production costs have increased due to the challenges faced by the global economic downturn linked to the Middle East unrest, the company stated that it will take measures in a way that minimizes the impact on the public.