MIFCO generates a revenue of USD77 million in 2021

Maldives Industrial Fisheries Company Limited (MIFCO) has generated an income of USD77 million in 2021.

As per the annual report of State Trading Organisation (STO) for 2021, its subsidiary company MIFCO generated USD77.8 million as revenue last year, which was 17% higher than the USD64.8 million generated the previous year. The report attributed the growth to the increase in tuna exports last year.

MIFCO purchased a record amount of fish from local fishing vessels last year, buying 58,250 tonnes by the end of the year. The company had also exported 47,000 tonnes of raw tuna last year.