State-run fisheries company Maldives Industrial Fisheries Company (MIFCO) has increased the purchase price of skipjack tuna to MVR 18.50 per kilogram, marking an increase from the MVR 17 per kilogram rate paid across all its ports on Saturday.
MIFCO publishes daily fish purchase prices and volumes for all of its collection ports. According to the latest figures released, the company increased the buying price for skipjack tuna by MVR 1.50 per kilogram.
A MIFCO official said the increase was not intended as a one-day adjustment, noting that fish purchase prices fluctuate depending on fishing seasons and market conditions. The official also indicated that the purchase price of skipjack tuna would not fall below MVR 16 per kilogram.
The increase comes as President Mohamed Muizzu has previously pledged to raise the purchase price of skipjack tuna to MVR 20 per kilogram.
While the price of skipjack tuna increased, purchase prices for yellowfin tuna remained unchanged. Yellowfin tuna weighing more than 10 kilogrammes continued to be purchased at MVR 20 per kilogram, while yellowfin tuna exceeding 15 kilogrammes remained priced at MVR 25 per kilogram.
The adjustment follows a decline in payments to fishermen last month. According to MIFCO’s figures, the company paid fishermen more than MVR 41 million less in May compared with April.
The fisheries sector remains one of the Maldives’ most important industries, with fish purchase prices closely monitored by fishermen and industry stakeholders due to their direct impact on income and operational sustainability.
