MIFCO increases skipjack tuna purchasing price to MVR 18.50 per kilo

The Maldives Industrial Fisheries Company (MIFCO) has increased the purchasing price of skipjack tuna.

MIFCO stated today that fish will be purchased at MVR 18.50 from all the company's centers and vessels starting today.

Fish will be purchased at this price today from MIFCO's Felivaru Fisheries Complex, Kooddoo Fisheries Complex, Addu Fisheries Complex, as well as the harbors of GDh. Thinadhoo, GDh. Faresmaathodaa, GDh. Gadhdhoo, Fuvahmulah City, and HA. Ihavandhoo.

MIFCO also purchased fish at MVR 18.50 late last year. However, due to the Middle East war causing fuel prices to rise and negatively impacting MIFCO's operations, the purchasing price was lowered. Since then, it has been purchasing at a rate of MVR 17 per kilo.

However, today, MIFCO has matched the market price with private companies. Fishermen stated that this is an additional encouragement to go out to sea during such a period of bait scarcity. Fishermen also note that this is evidence of President Dr. Mohamed Muizzu listening to the fishermen and working to find better solutions for them.

Although MIFCO has increased the purchasing price of skipjack tuna, the purchasing price of yellowfin tuna remains unchanged. As such, yellowfin tuna weighing 10-15 kilos is purchased at MVR 20 per kilo, and yellowfin tuna weighing above 15 kilos is purchased at MVR 25 per kilo.