Due to the discussions and efforts undertaken by MIFCO’s new management with foreign parties, the price received for Maldivian fish in the international market has been increased. Speaking on PSM, MIFCO’s Senior Consultant Atif Shakoor stated that positive changes have been brought to the company’s operations over the past six months.

Atif noted that the selling price of fish in the global market has now risen. He stated that the price, which was previously selling at $1,506 per ton, has been increased to $1,620. Furthermore, he highlighted that $50 per ton was saved through negotiations with buyers, which is a significant relief for the company.

Atif stated that while the global market cannot be controlled, the opportunity to raise prices was gained due to the high demand for the Maldives’ environmentally friendly pole-and-line fishing. Additionally, MIFCO revealed that there is hope that the UK market, which was closed until last July, will reopen within this year.