In alignment with the government’s pledge to address the challenges faced by yellowfin tuna fishermen, MIFCO has officially commenced its tuna procurement operations. Under the current pricing structure, yellowfin tuna weighing between 10 to 15 kilograms is purchased at MVR 20 per kilogram, while tuna exceeding 15 kilograms is priced at MVR 25 per kilogram. To ensure a consistent cash flow for fishermen, payments are processed and released within 48 hours of the catch being weighed.
Since the launch of these operations at Kandooiygiri, the process has been maintained sustainably, with over MVR 1 million already disbursed to fishermen. This initiative provides a significant solution to the long-standing issue of delayed payments from private companies, thereby substantially strengthening the confidence and trust of the fishing community in the industry.
