Ensis Fisheries Suspends Free Ice Supply Amid Rising Fuel Costs

Ensis Fisheries Private Limited has discontinued the provision of free ice to fishermen, citing unsustainable production costs driven by a sharp increase in global fuel prices linked to the ongoing conflict in the Middle East.

In a statement issued, the company stated that it has been working to address ongoing challenges facing the fishing industry amid volatility in both global and domestic fuel markets. It noted that the recent surge in fuel prices has significantly increased the cost of producing and supplying ice, creating a substantial financial burden.

Ensis Fisheries reported that fuel prices rose twice between 1 March and 16 March, resulting in a cumulative increase of 111 percent. The company explained that fuel accounts for the largest share of operational expenses in fish processing and export activities, and that the recent hikes have forced it to operate at a considerable loss.

As a result, the company has suspended the provision of free ice to yellowfin tuna fishermen, describing the move as necessary to ensure long-term sustainability under current cost pressures. It also apologised to the fishing community for the disruption and stated that it will continue to monitor fuel price trends while exploring options to reinstate the service.

Fuel prices in the Maldives have increased significantly following adjustments by the State Trading Organization, which revised delivery prices in response to global market disruptions. Prices vary across regions due to transportation costs, but both petrol and diesel have reached record highs nationwide.

The government has taken steps to stabilise fuel prices by utilising projected profits from the State Trading Organization alongside existing subsidies. However, concerns are growing over the broader economic impact if the conflict continues.