Maldivian Fish Exports Plunge 50% in January

Fish exports from the Maldives experienced a significant decline in January, falling by 50%, according to figures released by the Maldives Monetary Authority (MMA). This year, only 4,500 metric tons of fish were exported in January, compared to 8,500 metric tons during the same month in the previous year.

The primary factor behind this decline is a substantial reduction in skipjack tuna exports. In January, only 2,200 metric tons of skipjack tuna were exported, representing a 49% decrease from the 6,100 metric tons exported in January of last year.

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Furthermore, exports of both frozen/iced fish and canned tuna have also decreased. Canned tuna exports saw a particularly sharp 55% decline.

Overall, 78,000 metric tons of fish were exported from the Maldives last year. The recent downturn coincides with the closure of Ensis Fisheries, the nation’s largest fish exporter. Ensis ceased operations towards the end of last year, citing difficulties caused by the government’s decision to raise the minimum purchase price for a single fish to MVR 25 per kilo.

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