Maldives Industrial Fisheries Company (MIFCO) has decided to increase the prices of its products, amid a spike in commodity prices across the globe.
MIFCO has now increased the price of a case of canned tuna in oil by MVR 150. Earlier, MIFCO sold a case of canned tuna for MVR 610.
Speaking to local news media, CEO of MIFCO Ismail Fauzee stated that the cost of producing canned fish has increased due to the rising prices of commodities in the world market. The prices of all MIFCO products have been changed.
The price of canned fish products has been changed after maintaining the same price for many days. MIFCO said the price change is the best offer to customers at the moment.
Commodity prices have risen sharply across the globe following the Ukraine-Russia war. MIFCO stated that it will bring positive changes in prices as soon as the prices of commodities in the world market improve.
Meanwhile, MIFCO has also increased the purchase price of fish from fishermen. The purchasing price of fish has increased from MVR 16 to MVR 17.
