MIFCO reverses canned tuna price increase hours after hike
MIFCO said it had decided to restore the previous prices following public feedback and consideration of the cost of living.
The Maldives Industrial Fisheries Company (MIFCO) has reversed its decision to increase the price of canned tuna in oil, hours after implementing the adjustment earlier on Monday.
In a statement issued later in the day, the state-owned company said it had decided to restore the previous prices following public feedback and consideration of the cost of living.
“Following the price adjustment made earlier today to MIFCO’s canned tuna in oil, a decision has been made to revert to the previous pricing. This change takes into account public feedback and the overall cost of living for our citizens,” the company said.
MIFCO confirmed that, effective from Monday night, canned tuna in oil will be sold at MVR 17.50 per can and MVR 760 per case at its outlets.
“We assure our customers that MIFCO remains committed to providing high-quality products at the most affordable prices possible,” the statement added.
Earlier on Monday, MIFCO had increased the price of a single can from MVR 17.50 to MVR 18.50, while the price of a case was raised from MVR 769.00 to MVR 800.00, citing higher logistical and operational costs.
