MIFCO to purchase fish at MVR 20, aim is to not go lower than MVR 18

MIFCO has raised its purchase price for skipjack tuna to MVR 20 per kilogram, with yellowfin tuna in the 10-15 kg range also priced at MVR 20. The price list covers several fisheries complexes at Felivaru, Kooddoo, Addu GA, as well as Dhaandhoo Harbor, GDh. Thinadhoo Harbor, Faresmaathoda Harbor and Fuvahmulah Harbor. Yellowfin over 15 kg remains at MVR 25 per kg. MIFCO Managing Director Mohamed Anas told Mihaaru News that the price increase follows President Dr. Muizzu’s pledge to hold the price at MVR 20 and adjust only with supply and demand. He added that the company will look to reduce expenditure, cut waste, and strengthen management to sustain the policy. An extended plan includes expanding cold-storage capacity to reduce exports and stabilize local prices, with completion expected around April 2027. Previously, MIFCO bought skipjack at around MVR 16 per kg when market rates permitted.