Maldives Industrial Fisheries Company Limited has disbursed over MVR 36.6 million to fishermen between April 1 and 23, according to the company’s latest statistics.

MIFCO said MVR 6.1 million was paid for fish purchased on April 21 alone, with total payments to fishing vessels during the period reaching MVR 36,686,909. Of this, MVR 36.2 million was issued for skipjack tuna, alongside additional payments of MVR 29,660 for yellow fin tuna weighing above 10 kg and MVR 363,625 for yellowfin tuna weighing above 15 kgs.

The company noted that payment timelines have improved significantly, with fishermen now receiving dues within 48 hours of catch delivery, following reforms introduced by the current Administration, when outstanding payments had reached approximately MVR 250 million.

MIFCO added that measures taken in 2025 to strengthen the fisheries sector include increasing the purchase price of fish to MVR 16 per kilogramme and reducing fuel prices for fishermen to MVR 13, alongside expanded procurement across different catch categories.

The company also said efforts are ongoing to support fishermen through improved pricing, faster payments and fuel supply arrangements, contributing to increased catch volumes and export performance in recent months.