Fishing Activity Begins to Recover After Seasonal Slowdown, Says MIFCO

Fishing activity in the Maldives has started to recover following a sharp seasonal decline in recent weeks, with the Maldives Industrial Fisheries Company (MIFCO) now purchasing an average of 50 metric tonnes of fish per day.

MIFCO said catches are expected to increase further in the coming days as fishing conditions improve after the slowdown experienced during June. The company added that the most productive fishing grounds are currently around Lhaviyani Atoll.

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MIFCO attributed the decline to reduced fish abundance in Maldivian waters during the south-west monsoon. The company said fishermen received an average of less than USD 64,851 per day in June, while payments for landed catch fell to around USD 12,970 on some days.

The company noted that the slowdown is consistent with historical fishing patterns, with June and August traditionally among the least productive months for the Maldivian fishery. Rough sea conditions and lower fish availability during the south-west monsoon typically result in reduced catches each year.

Despite the seasonal downturn, MIFCO recently increased the price it pays for fish following the removal of United Kingdom tariffs on Maldivian tuna exports. Since 9 June, the company has been purchasing fish delivered to its collection centres at USD 1.29 per kilogram.