MIFCO: Fisheries improving after last two months’ sharp decline

The fisheries industry has been improving after suffering a sharp decline the last two months, according to the Maldives Industrial Fisheries Company (MIFCO).

MIFCO told Sun on Wednesday that it is currently purchasing an average of 50 tons of tuna per day.

MIFCO said that the fisheries experienced an “unusually big” decline in June, bit that it is improving now.

The company expects its fish purchases to increase in the coming days.

Fishing is currently best in the Lh. Atoll region, added the company.

Statistics released by MIFCO shows the company purchased only 568 tons of tuna in June, coming down from 1,791 tons in May, and 4,414 tons in April.

Purchases and disbursements over the last six months:

• January: 2,454 tons (MVR 40.4 million)
• February: 1,180 tons (MVR 20.4 million)
• March: 1,625 tons (MVR 29.4 million)
• April:  4,414 tons (MVR 78.8 million)
• May: 1,791 tons (MVR 31.1 million)
• June: 568 tons (MVR 11.3 million)

MIFCO named the strengthening of the Hulhangu Monsoon as the biggest cause of decline in fisheries.

It is usual for fisheries to decline in June and August, said the company.

Despite the decline in fisheries, MIFCO said it has been purchasing skipjack tuna at above MVR 20 per kilo since June 9. The move followed UK’s decision to suspend the 20 percent import tariff on all tuna imports, including from the Maldives.