MIFCO hikes fish purchase price to MVR 25 per kg

The state-owned fisheries company, MIFCO, has decided to increase the purchase price of fish to MVR 25 per kilo starting Saturday.

MIFCO Managing Director Ismail Fauzy told Atoll Times Friday evening that the decision has been taken and the relevant documentation is being completed.

Without giving details, Fauzy said more information would be shared with the media soon.

President Ibrahim Mohammed Solih said in January that the European Union (EU) and the United Kingdom, the two largest fish exporting markets, would soon announce their decision to cut their duties on Maldivian fish exports.

Maldives and the EU have been in talks since June to find a way to slash duties on fish exported to European countries.

Negotiations on a free trade agreement between the UK and Maldives also began in June. The agreement will facilitate duty-free exports of Maldivian fish products to the UK.

Lack of fair price for fish, difficulties in obtaining ice and lack of capacity to buy fish are common complaints from fishermen.

Fair price for the fish caught by fishermen is a promise repeated by various candidates during the current presidential election campaign. They include:

MIFCO has announced to raise fish prices just two weeks before the second round of election on September 30.