Maldives Industrial Fisheries Company (MIFCO) has raised the price of canned fish to MVR 18.50.
In a statement, the company attributed the increase to rising global oil prices following the ongoing conflict in the Middle East, which have exacerbated production costs.
MIFCO said fuel, previously available at MVR 11.57 per litre before March, is now being purchased at MVR 14.32 per litre. As a result, a can of fish in oil will now be sold for MVR 18.50, up by one Rufiyaa from the previous price. A case of canned fish in oil will now cost MVR 800.
Despite the impact of global economic challenges on production costs, MIFCO stated it will continue to implement measures aimed at minimising the effect on consumers.
