In response to the current decline in fishing catch across the Maldives and the subsequent rise in demand, the Maldives Industrial Fisheries Company (MIFCO) has increased its fish purchase price to MVR 20 per kilogram.
MIFCO’s Managing Director, Mohamed Anas, stated that the purchase price is determined based on market demand and supply dynamics, emphasizing that the government’s primary goal is to ensure fishermen receive the most competitive prices for their catch. Furthermore, the government is actively working to enhance the profitability of the fisheries sector by improving quality control measures and expanding cold storage capacities. MIFCO’s various processing plants and harbors have already commenced purchasing fish at this revised rate.
