The Maldives Industrial Fisheries Company (MIFCO) has introduced significant changes to the prices it pays for fish, with rates varying according to the volume of fish supplied.
The state-owned company said it purchases fish at three different rates at its collection centres and from vessels. The revised pricing structure takes into account market supply and demand, with the aim of ensuring fair prices for fishermen and strengthening the sustainability of the fisheries sector, in line with the Government’s policy.
Under the revised rates, MIFCO will pay USD 1.36 per kilogram for catches weighing between one and five tonnes, USD 1.43 per kilogram for catches between five and eight tonnes, and USD 1.48 per kilogram for catches exceeding eight tonnes.
MIFCO said it would purchase fish at these rates today at the ports of Thinadhoo in Gaafu Dhaalu Atoll, Felivaru in Lhaviyani Atoll, Ihavandhoo in Haa Alif Atoll, Hithadhoo in Laamu Atoll and Mulah in Meemu Atoll.
The latest revision follows earlier adjustments to fish purchase prices in response to changes in international market prices and fluctuations in supply and demand. MIFCO raised its purchase price to USD 1.30 per kilogram in June and subsequently to USD 1.36 per kilogram in August. In September 2026, the company increased the purchase price of skipjack tuna to USD 1.43 per kilogram.
Under the Government’s fish purchase pricing framework, rates may be adjusted in line with international market conditions and demand. However, President Dr Mohamed Muizzu has said arrangements would be made to ensure that the price paid to fishermen does not fall below USD 1.30 per kilogram.
MIFCO has reaffirmed its commitment to maintaining the minimum purchase price at USD 1.30 per kilogram.