Maldives Faces Fish Shortage as Fishing Declines

Maldives Industrial Fisheries Company Ltd (MIFCO) has acknowledged an increase in complaints about fish product shortages in local stores amidst a significant decline in fishing activity nationwide.

Concerns have been mounting on social media platforms, with many residents expressing frustration over the reduced availability of fish and fish products.

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MIFCO attributed the low stocks to a sharp decrease in fishing and the subsequent supply of fish to their facilities.

While canned fish remains unaffected and readily available, MIFCO clarified that other products, particularly those dependent on skipjack tuna, may see limited production until sufficient supply resumes. Yellowfin tuna products, however, will continue to be stocked.

Local fishermen have attributed the decline in fishing activity to reduced catches and changes in government purchasing rates. Reports indicate that some fishermen have refrained from fishing for over a month due to these economic challenges.

MIFCO adjusted its purchasing rates to align with international market prices starting June 21st. This decision aims to address the financial strain caused by higher operational costs compared to revenue from international sales. The current international price for fish ranges between MVR 18-20 per kg.

Experts have advocated for aligning local fish prices with international market rates to ensure sustainability and efficiency in the industry. However, delays in payment to fishermen persist, despite ongoing discussions on price adjustments.