MIFCO to purchase fish weighing over 1 kg at MVR 16 per kilo

The state-owned fisheries company, MIFCO, has announced that starting today it will purchase fish weighing over one kilogram at a rate of MVR 16 per kilo.

This change was announced by President Dr. Mohamed Muizzu during the official ceremony held last night in R. Dhuvaafaru to mark this year’s Fishermen’s Day.

In an announcement released today, MIFCO stated that, in line with the government's pledge to secure a good price for the fish caught by fishermen, all fish weighing more than one kilo will be purchased for a minimum of MVR 16, starting today.

Previously, fishermen received MVR 16 only for fish weighing 1.5 kg and above supplied to MIFCO.

The new rate will apply to all fish weighing 1 kg and above supplied to the company, starting today. MIFCO clarified that under the new change, a kilo of iced Skipjack tuna and Yellowfin tuna will also be purchased for MVR 16 starting today. The announcement further detailed that Yellowfin tuna weighing 15 kg and above will be purchased for MVR 18 per kilo. Skipjack tuna and Yellowfin tuna sold without being iced will be purchased for MVR 14 per kilo.

MIFCO confirmed that this change in the purchasing price was made after extensive consultation between the company and the Ministry of Fisheries, in line with the government's policy to ensure fishermen receive a good price for their catch.

MIFCO stated that it is always striving to reduce operational costs and provide the desired price for fish and quality services to fishermen, without becoming an additional burden on the state and the public.

The change addresses a major complaint raised by fishermen, who expressed concern over the high size standard (1.5 kg) previously used to classify fish as small/lower-priced. This concern was voiced to the President during the forum held in Dhuvaafaru yesterday.