Gov’t Plans to Raise Fish Storage Capacity to 25,000 Tonnes, Says Minister Shiyam

Minister of Fisheries and Ocean Resources Ahmed Shiyam said yesterday evening that the government is planning to increase the nation’s fish storage capacity from 9,500 tonnes to 25,000 tonnes.

Speaking during a presentation at the ceremony held in Dhuvaafaru, Raa Atoll, to celebrate the Maldives’ Fisherman’s Day, the Minister said the expansion will take place across various islands in the Maldives. He noted that while the Maldives is one of the world’s leading pole-and-line fishing nations, limited ice and cold storage capacity have prevented the country from setting competitive market prices.

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Shiyam explained that when fishing conditions are favourable in the Maldives, they are often favourable elsewhere as well. However, because the country lacks sufficient long-term frozen storage, fishermen are forced to sell their catch immediately, often at lower market prices. He said expanding storage capacity would allow the Maldives to better manage supply and influence pricing.

“This will give us the power to set the price in the pole and line fishing market,” said the Minister.

According to the breakdown provided, the planned increase includes 1,000 tonnes in Ihavandhoo, Haa Alifu Atoll; 4,000 tonnes in Felivaru, Lhaviyani Atoll; 1,500 tonnes in Nilandhoo, Faafu Atoll; 500 tonnes in Mulaku, Meemu Atoll; 200 tonnes in Hirilandhoo, Thaa Atoll; 4,000 tonnes in Kooddoo, Gaafu Alifu Atoll; 1,000 tonnes in Thinadhoo, Gaafu Dhaalu Atoll; an additional 3,000 tonnes in Fiyori, also in Gaafu Dhaalu Atoll; and 1,000 tonnes in Hulhumeedhoo, Seenu Atoll.

“With the establishment of these factories, we have almost tripled our current capacity. Export earnings from the Maldives currently stand at USD 92 million (approximately MVR 1416,800,000). If this goal is achieved, the revenue generated from Maldivian fish exports will increase to USD 190 million (approxiamtely MVR 2,926,000,000),” Shiyam said.

The Minister also announced that construction of a new factory in Felivaru will begin early next year, citing the deteriorating condition of the existing facility. He said President Dr Mohamed Muizzu has allocated the necessary funds for the project.

In addition, Shiyam said MVR 128 million will be spent to commence the production of fish products, including the manufacture of packaging materials. He added that MVR 27.7 million has been allocated for the development of small and medium enterprises, while MVR 30 million has been provided to 62 individuals to support sports fishing initiatives.

The Minister further noted that mariculture zones have been established in the Maldives for the first time.