A traditional Maldivian food, Rihaakuru, that is viscous and produced by extensively cooking fish broth, is now sold at a maximum rate of MVR 390 per bottle.
The reason? Maldives is currently experiencing a significantly low period in fisheries activities with less and less volume of fish caught at a weekly or monthly basis.
The scarcity of the primary ingredient needed to prepare this dish meant that its producers are presented with fresh set of challenges. First, there is the limited availability of fish to prepare the item, and second, with the higher demand and lower supply, price inflation will have an upward momentum, meaning the price of fish is bound to jump.
Photo: Mohamed Afrah/Sun Online
The production cost for Rihaakuru will increase, meaning that its producers are forced to bump up prices for a profit margin to cover their expenses.
This has led to Rihaakuru currently being sold upwards of MVR 110 per bottle, reaching the top ceiling of MVR 390. There is possibility of price jumping even higher if current conditions stretch farther.
A local Rihaakuru producer from Meemu atoll Veyvah said it was now difficult to buy fish from the market owing to their decreased volume. The local producer said that dried tuna that had been sold between MVR 80 and MVR 85 per kilo is now at a staggering MVR 220 per kilo.
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