Maldives Industrial Fisheries Company (MIFCO) has increased the purchase price of fish from fishermen. The price rate rise which is scheduled to come into to action today, would witness an increase of MVR 1 for each kilogram of fish purchased by MIFCO. With the increase in the price, the price of frozen fish is set at MVR 20 and unfrozen fish at MVR 18.
Speaking at the joint press conference held at State Trading Organisation (STO) Head Office to announce the change in prices, the Managing Director of STO Ahmed Shaheer revealed that the increase in the purchase price of the fish from fishermen is due to the increase of the price of fish in the international markets. He also highlighted that STO will remain in servicing and providing the society with such benefits.
CEO of MIFCO Adil Ismail revealed that alterations in the businesses will always be reflected to Maldivian markets. This being a fishing season in Maldives, Adil advised all fishermen to take benefit from the change in the price market of the fish. He concluded his statement by stating that MIFCO has provided easy routes to get ice to store fish for a lengthy duration.