MIFCO Reports Stronger Fish Purchases, Signals Industry Recovery

The Maldives Industrial Fisheries Company (MIFCO) has reported a positive shift in its fresh fish sales, marking a welcome recovery after a significant drop in activity. According to MIFCO’s statistics, the daily average of fish sold has increased to 280 metric tons, with 321 metric tons purchased over the last 48 hours. This includes 50.7 tons from the Felivaru Fisheries Complex, 221.12 metric tons from Kooddoo Fisheries Complex, and 48.71 metric tons from Addu Fisheries Complex.

Just last Thursday, MIFCO purchased 492 metric tons of fish from 110 fishing vessels, amounting to MVR 5.7 million, which was promptly disbursed to the fishers. Similarly, the previous Wednesday saw 362 metric tons of fish sold by 71 vessels, valued at MVR 4.4 million.

This surge follows a prolonged period of decline in sales, with a record low of just 55 metric tons purchased on December 23, 2024. However, MIFCO has reported a recent upswing in fishing activity, signaling a positive trend after months of stagnation.

Despite this, the weather poses ongoing challenges. The Maldives Meteorology Service has forecasted heavy rainfall and large sea swells from January 13 to 18, particularly in the northern and central regions, which could reduce the number of vessels heading out to sea. This transitional weather is often linked to fluctuations in fisheries activity in the country.