Maldives Industrial Fisheries Company Limited (MIFCO) has begun purchasing yellowfin tuna at a rate of MVR 25 per kilogram, in a move aimed at addressing long-standing challenges faced by fishermen and strengthening State support for the fisheries sector.

MIFCO Chief Executive Officer and Managing Director Farhath Shaheer made the announcement following a visit to the Kandu Oiy Giri MIFCO facility alongside Minister of Fisheries and Ocean Resources Ahmed Shiyam. He said all necessary preparations had been completed to commence the purchasing programme at the site.

According to Shaheer, MIFCO is now purchasing yellowfin tuna from fishermen at a fixed rate of MVR 25 per kilogram, with arrangements also in place to facilitate fish transfer and processing. He said the company is fully prepared to utilise the facility to provide services to fishermen in line with Government policy.

Shaheer said additional services, including cold storage, ice supply and the provision of fuel to fishermen at subsidised rates, are expected to commence in the near future. He added that logistical arrangements have been finalised to process the fish locally and transport it to other processing centres where required.

The MIFCO CEO said the facility has been brought back into operation following detailed planning by the company’s technical teams, including the docking of MIFCO vessels at the site to support uninterrupted purchasing operations.

MIFCO confirmed that all preparatory work has been completed and that the purchasing of yellowfin tuna has now officially commenced as part of Government efforts to support fishermen and stabilise livelihoods within the sector.