Yellowfin Tuna
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BusinessMIFCO raises skipjack tuna purchase price to MVR 21
MIFCO has increased the skipjack tuna purchase price to MVR 21 per kilogram to ensure fair rates for fishermen. This adjustment follows previous price hikes in June and aligns with government efforts to support the fisheries sector despite ongoing financial losses and the need for subsidies.
BusinessFisheries revenue plummets as purchases collapse by 60 percent
Fisheries revenue has plummeted as fish purchases dropped by 60% in the first half of the year. Skipjack tuna saw the sharpest decline, falling over 65%, leading to a significant loss in export earnings. If this trend continues, annual revenue is projected to fall nearly 45% compared to last year.