MIFCO reports major decrease in fish catch
According to data shared by MIFCO, the total fish catch as of October 17 this year is down by 28,951 metric tonnes compared to the same period in 2023.
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Maldives Industrial Fisheries Company (MIFCO) announced on Monday a major decrease in the amount of fish caught this year compared to the same period last year, citing challenges in the fisheries sector and the company's financial situation.
According to data shared by MIFCO, the total fish catch as of October 17 this year is down by 28,951 metric tonnes compared to the same period in 2023.
The figures indicate that each month this year has seen a reduction in fish supply to MIFCO, with the most significant drops occurring in April, May, and October.
The breakdown of the monthly figures is as follows:
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January: 7,528 metric tonnes in 2023; 7,452 metric tonnes this year (a decrease of 77 tonnes)
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February: 9,035 metric tonnes in 2023; 5,860 metric tonnes this year (a decrease of 3,175 tonnes)
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March: 6,715 metric tonnes in 2023; 4,611 metric tonnes this year (a decrease of 2,104 tonnes)
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April: 7,054 metric tonnes in 2023; 2,322 metric tonnes this year (a decrease of 4,732 tonnes)
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May: 8,535 metric tonnes in 2023; 3,666 metric tonnes this year (a decrease of 4,869 tonnes)
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June: 1,794 metric tonnes in 2023; 1,272 metric tonnes this year (a decrease of 523 tonnes)
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July: 1,831 metric tonnes in 2023; 247 metric tonnes this year (a decrease of 1,584 tonnes)
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August: 3,204 metric tonnes in 2023; 1,157 metric tonnes this year (a decrease of 2,047 tonnes)
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September: 3,124 metric tonnes in 2023; 1,529 metric tonnes this year (a decrease of 1,595 tonnes)
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October: 8,660 metric tonnes in 2023; 836 metric tonnes this year (a decrease of 7,824 tonnes)
The most significant decline occurred in October. MIFCO has attributed this decrease to the overall decline in fisheries and its worsening financial situation. Fishermen have previously reported delays in offloading fish due to cost constraints faced by the company.
Additionally, the outstanding payments owed to fishermen, from the end of last month to October 14, have reached MVR 9.1 million.
