MIFCO Initiates Yellowfin Tuna Procurement

Minister of Fisheries and Ocean Resources Ahmed Shiyam has announced that Maldives Industrial Fisheries Company Limited (MIFCO) is gearing up to buy Yellowfin tuna. Until now, MIFCO has been involved in pole and line fishing within the fisheries.

President Dr Mohamed Muizzu has pledged a minimum selling price of MVR 80 for the fish when procurement begins. 

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Minister Shiyam confirmed in an interview with a local news programme that MIFCO is preparing facilities to purchase Yellowfin Tuna. He also mentioned ongoing efforts to initiate operations at Kanduoih-giri.

Minister Shiyam stated, “We are actively working towards fulfilling the president’s commitment, exploring ways for MIFCO to acquire Yellowfin tuna promptly. We focus on determining the necessary steps to set Kanduoih-giri into operation as part of this effort.”

Emphasising the need for operational improvements, Minister Shiyam highlighted the necessity for the government to implement essential changes to enhance MIFCO’s operations and broaden the involvement of fishermen.

In addressing operational challenges, Minister Shiyam confirmed preparing a document to facilitate the independent operation of MIFCO as a separate company. He highlighted that the current challenge of MIFCO operating under the State Trading Organization (STO) would be resolved through this move, ultimately benefiting fishermen. Minister Shiyam also stated that efforts would be made to accelerate projects to increase MIFCO’s capacity. 

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