MIFCO raises purchase price for skipjack tuna to MVR 20

Maldives Industrial Fisheries Company (MIFCO) raised the purchase price for skipjack tuna to MVR 20 per kilo on Tuesday, less than 48 hours after a previous price hike.

MIFCO releases its purchase price for both skipjack tuna and yellowfin tuna on a daily basis.

On Sunday, the state fisheries company raised the purchase price for skipjack tuna to MVR 18.50 per kilo.

And on Tuesday, the company raised it even further up to MVR 20 per kilo.

The decision to raise the purchase price comes as some regions experience a dry spell.

Fixing the purchase price for skipjack tuna at MVR 20 per kilo was a pledge President Dr. Mohamed Muizzu made during his 2023 campaign.

MIFCO has set a floor price of MVR 16 for purchase of tuna, and adjusts its prices on a daily basis.

While the company raised its purchase price for skipjack tuna to MVR 20 on Tuesday, the purchase prices for yellowfin tuna remain unchanged, at MVR 20 per kilo for 10-15 kilo fish, and MVR 25 per kilo for larger fish.

Statistics released by MIFCO shows that its disbursement for fish purchases in May was over MVR 41 million lower than in April.