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Fish Prices Rise in Global Markets

June 9th, 2018
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Fishermen release bait fish during pole and line fishing practice to catch skipjack tuna. Pole and line fishing is a selective and therefore more sustainable way to catch tuna as only fish of a certain size are caught, leaving juveniles to grow to spawning age and replenish the stock in the future. Small bait fish are thrown over the side of the boat to lure the tuna to the water surface. The fishermen use the acceleration of the fish as they race to get their prey, hook them and fling them onto the ship’s flat deck.

Fisheries Ministry statistics show that prices for Maldivian fish in all global markets has increased.

Statistics issued by the Ministry last week showed this trend across Japan’s Tokyo Metropolitan Market, Thai and Spanish markets.

A ton of fish commanded a price of MVR 23,130 in Thai markets last month. This figure had increased by 16.67 percent to MVR 27,756 per ton. A kilo of big eyed tuna on the Japanese market amounted to MVR 145.80 last week. This figure had risen to MVR 154.52 per kilo – an increase of 5.64 percent.

Yellow bellied tuna sold for MVR 154.73 per kilo last month in the Spanish markets. This figure had increased by 33 percent to MVR 232.96 per kilo.

While global prices for fish increased, the purchase prices had fallen locally. Prices for tuna averaged at MVR 47.70. This had fallen from MVR 59.43 per kilo.


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