The Maldives Industrial Fisheries Company Limited (MIFCO) has paid USD 2 million to fishermen for fish purchased in May.
According to MIFCO statistics, a total of 693 fishing vessels delivered 1,791 tonnes of fish to MIFCO during the month, with USD 2,015,684 disbursed for their catch. Fish landings were significantly lower than in April, when 1,068 vessels delivered 4,414 tonnes of fish.
The decline was attributed to the start of the south-west monsoon on 10 May, which affected fishing activity. Fewer fishing trips during the Eid holidays at the end of the month also contributed to the lower landings.
The figures include catches of skipjack tuna and yellowfin tuna.
Quantity: 1,708.9 tonnes
Amount disbursed: USD 1,884,769
Number of vessels: 367
Quantity: 6.9 tonnes
Amount disbursed USD 8949.42
Number of vessels: 109
Quantity: 6.9 tonnes
Amount disbursed: USD 121,964.37
Number of vessels: 217
The government is prioritising the expansion of the fisheries sector as a key income-generating industry.
Fishermen are now being paid within 48 hours for fish supplied to MIFCO. In addition, subsidised fuel is being distributed, with more than 2.9 million litres released so far across nine locations to support fishermen amid rising global fuel costs linked to the Middle East war.