MIFCO pays record amount of MVR 990m in fees to fishers in 2022


Photo: Sun Online

Maldives Industrial Fisheries Company Ltd (MIFCO) paid record amount of 990.8 million Rufiyaa to fishers in 2022.

The company has bought 60,566 metric tons of fish from fishers this year. This is the highest recorded amount by MIFCO to date.

The amount of fish being weighed at MIFCO’s factories is increasing, however the company has faced challenges in its limited storage capacity to take in fish. Despite this, the company is working on accommodating as many fishers on its payroll.

Amount of fish bought by MIFCO from fishermen in 2022:

  • January – 6460 metric ton
  • February – 5670 metric ton
  • March – 5130 metric ton
  • April – 7690 metric ton
  • May – 2950 metric ton
  • June – 3280 metric ton
  • July – 1570 metric ton
  • August – 2630 metric ton
  • September – 8220 metric ton
  • October – 5550 metric ton
  • November – 7150 metric ton
  • Upto December 14th – 4230 metric ton

MIFCO is working on establishing a cold storage facility in Felivaru Fish Factory, with capacity to store 4000 metric tons of fish. They will also establish a brine freezing facility that can freeze 200 tons of fish a day.

The Maldives government is also working on establishing refrigerated sea water facility and related facilities to support fishers.