MIFCO Distributes MVR 30 Million to Fishermen in October

According to the Maldives Industrial Fisheries Company Limited (MIFCO), MVR 30 million was distributed to fishermen last month. Records show that 462 boats supplied a total of 1,356 tons of fish to MIFCO in October, an increase from 1,288.42 tons in September. The number of boats supplying fish also rose from 453 in September to 462 in October. The increase in fish supply led to a higher payout compared to September's MVR 27.32 million. On some days in October, approximately MVR 2 million was distributed to fishermen. The government is working to maintain a minimum purchase price of MVR 20 per kilogram, with MIFCO currently buying blackfin tuna at over MVR 22 per kilogram. On November 1, MIFCO's annual day, fish was purchased at MVR 23 per kilogram. The government aims to expand the fishing industry as a major income source for the country and ensures fishermen are paid within 48 hours of supply.