President announces minimum fish price of MVR 16 at Fishermen’s Day celebrations

The Maldives Industrial Fisheries Company (MIFCO) will begin purchasing fish at a minimum price of MVR 16 per kilogram starting Sunday, President Dr Mohamed Muizzu announced at the Fishermen’s Day celebrations in R. Dhuvaafaru.  

Speaking at the event, the President said MIFCO will now buy fish from one kilogram and above, instead of the previous 1.5‑kilogram threshold, at the minimum price of MVR 16.  

“This means that if MIFCO can buy at MVR 17, at MVR 18, or even higher, MIFCO will determine the maximum price at that time,” he said.  

He added that with the digitization of fish weighing mechanisms, payments to fishermen will increase.  

President Muizzu reiterated his campaign pledge to raise the purchase price to MVR 20 per kilogram, acknowledging delays in implementation but assuring fishermen that the promise will be fulfilled.  

President Dr @MMuizzu and First Lady @sajidhaamohamed attend the official Fishermen's Day 2025 ceremony, hosted this year in R. Dhuvaafaru.

The commemoration honours the vital contribution of the nation's oldest industry—one that has formed the bedrock of Maldivian social and… pic.twitter.com/hiaRrTmj2I

— The President's Office (@presidencymv) December 13, 2025

“Fisheries is something we are very confidently fulfilling as we promised. And it will continue to be so. Hopefully there are more happy days ahead,” he said.  

Some companies in the fishing industry have voiced concern over President Muizzu’s plan to raise the purchase price of tuna to MVR 20.

During the 2023 presidential election campaign, the then‑MDP government had increased the price from MVR 17 to MVR 25, before reducing it again to MVR 20 in February last year.

On May 1, 2024, MIFCO shifted to international market pricing, arguing that it was not financially sustainable to continue buying, processing, and exporting fish at a fixed rate of MVR 20 per kilogram. Since that change, prices have fluctuated sharply, with 1.5‑kilogram fish generally valued at around MVR 16.