The introduction of Refrigerated Sea Water (RSW) systems on fishing vessels has significantly improved fish quality and strengthened export performance, according to Maldives Industrial Fisheries Company Limited (MIFCO) Managing Director Farhath Shaheer.

Speaking to State media, Managing Director Farhath noted that the adoption of RSW technology has allowed fish to be chilled onboard vessels instead of relying on ice plants. He said this has resulted in lower rejection rates in export markets and improved prices for Maldivian fish.

The RSW systems are being established with financial support provided through loans facilitated by the Ministry of Fisheries and Ocean Resources and SME Digital. The loans range from MVR 100,000 to MVR 2,000,000 and do not require collateral, aimed at encouraging wider adoption of the technology among fishermen.

MD said many fishing vessels, particularly in the southern region of the Maldives, are now equipped with RSW systems, contributing to consistent quality control from the point of catch to processing and export.

He also highlighted improvements in payment timelines to fishermen, stating that since Fishermen’s Day 2024, payments have been made within 48 hours of delivery. This, he said, is in line with a policy decision taken by President Dr Mohamed Muizzu. According to MIFCO, more than MVR 973 million was paid to fishermen between December 10, 2024 and 2025 for a total of 63,069 metric tonnes of fish.

In addition, MD Farhath outlined revisions to fish pricing, noting that all fish weighing above one kilogram are now purchased at rates exceeding MVR 16 per kilogram. He said the revised pricing structure allows fish to be purchased from different harbours at different times, based on supply and demand conditions.