MIFCO to export fish products to new markets

Maldives Industrial Fisheries Company (MIFCO) has revealed efforts are underway to export fish products to Turkey and Canada.

Speaking to PSM News, Managing Director Ismail Fauzee said currently fish products are mostly exported to European countries, although efforts have been launched to introduce its products to new markets. Fauzee noted raw fish are exported to some countries in Latin America as part of the efforts to seek additional markets to export.

Noting canned fish products are exported to European countries, Fauzee said orders have been booked for the upcoming three months as well. However, he said the demand for products worldwide has decreased due to the COVID-19 pandemic.

Revealing the global price for raw fish was USD 1,550 before the lockdown imposed amidst the COVID-19 pandemic, the managing director of the state-owned enterprise said the price has now decreased to USD 1,300. He expressed the price of fish bought from local fishermen by MIFCO has not changed despite the changes in prices in the global market.