Decline in fishing reduces pressure on MIFCO

Maldives Industrial Fisheries Company Limited (MIFCO) has revealed the decline in fishing has reduced the pressure of buying and processing large catches of fish.

Managing Director of MIFCO Ismail Fauzy said fishing in the north of the country have declined and more fishing vessels from the central region are traveling to sell fish due to an increase in fishing in the central regions.

The surge of fishing in the north saw many vessels throwing away tonnes of catches as MIFCO was unable to buy the bulk catches. Many fishermen complained regarding the capacity MIFCO has to process their fish.

Due to the limited capacity of MIFCO, its parent company State Trading Organisation (STO) offered incentives for the fishermen to travel to Kooddoo in the south as it has a larger capacity to process and store fish. Fishermen were concerned the five-day long travel to the south may affect the quality of fish.