In a welcome development for the Maldivian fishing industry, the state-owned Maldives Industrial Fisheries Company (MIFCO) has officially increased its fish purchase price to USD 1.36 per kilogram.
The positive price adjustment, which is in effect, provides a crucial financial cushion for local fishermen during the current off-peak season, where reduced catches across all regions have driven up local market demand for fish.
The new rate represents a USD 0.06 increase per kilogram for skipjack tuna, up from the USD 1.30 rate maintained since 14 June. In a statement to PSM News, MIFCO confirmed that purchase prices are continually evaluated against international market fluctuations, operational standing, and local supply-and-demand dynamics. The company emphasised that these positive adjustments align with national policy directives aimed at maximising earnings for Maldivian fishermen.
The enhanced rate is immediately available across key national infrastructure, including the Kooddoo Fisheries Complex (KFC Jetty), Addu Fisheries Complex (AFC Jetty), and Felivaru Fisheries Complex (FFC Jetty). Additionally, MIFCO collection vessels—specifically Randhi-20, Randhi-23, Randhi-25, Randhi-29, and KAL 401—are buying skipjack tuna at the updated price.
This temporary price relief comes as the government accelerates long-term reforms to strengthen the fisheries sector. Ongoing initiatives include expanding value-added fish production, boosting national cold storage capacity, enhancing quality-assurance protocols for export markets, and establishing resilient international supply networks to ensure high returns for Maldivian fish products year-round.