The Maldives Industrial Fisheries Company (MIFCO) has started selling diesel at special rates to vessels that sell fish to the company, effective yesterday.
The special prices for vessels weighing fish to MIFCO come at a time when the State Trading Organization (STO) has increased its fuel prices. Due to the rise in global oil prices, STO revised its rates, selling a litre of diesel for MVR 17.54 starting from the 5th of this month. This is an increase of MVR 3.62 compared to STO's previous diesel price.
Following this price change by STO, MIFCO announced yesterday the prices at which it will sell diesel to vessels weighing or selling fish to its various facilities and boats. Accordingly, starting yesterday, diesel is being sold to all parties weighing fish to MIFCO at a rate of MVR 16.54 per litre.
MIFCO stated that diesel will be sold at a rate of MVR 16.04 per litre to those who weigh more than 3 tonnes of fish to the company's fish purchasing centres and boats. However, MIFCO noted that diesel will be sold to the general public at the STO rate of MVR 17.54 per litre.
