MIFCO Begins Fish Purchasing Operations In Fuvahmulah City

The state-owned Maldives Industrial Fisheries Company (MIFCO) has begun purchasing fish in Fuvahmulah City, with operations officially starting on Saturday.

The move follows a commitment made earlier this month by MIFCO Chief Executive Officer, retired Brigadier General Farhath Shaheer, during a meeting with the Fuvahmulah City Council. A company vessel arrived in the city last Thursday to facilitate the operations.

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MIFCO has confirmed that the fish processing centre currently under construction in Fuvahmulah will be completed and operational this year, which will allow residents access to processed fish locally.

Fishermen across the Maldives have long faced difficulties in selling their catch due to limited purchasing and storage facilities. To address these challenges, MIFCO is expanding its operations to buy fish from multiple regions.

The company also announced plans last week to begin direct fish exports from Addu within the next month. This would remove the need to transport fish from Addu to Huvadhoo Atoll for processing. MIFCO has also reaffirmed its intention to launch value-addition operations in Addu before the end of the year.