Statistics show threefold drop in MIFCO’s fish collection

Statistics released by the Maldives Industrial Fisheries Company (MIFCO) shows a threefold decline in fish collection this year compared to the same period last year.

The statistics show MIFCO collected 72,686 metric tons of fish in 2023, but just 28,951 metric tons between January 1, 2024 and October 17, 2024. This is a decline of 43,735 tons of fish.

Fish collection in 2023:

• January: 7,528 metric tons
• February: 9,035 metric tons
• March: 6,715 metric tons
• April: 7,054 metric tons
• May: 8,535 metric tons
• June: 1,794 metric tons
• July: 1,831 metric tons
• August: 3,204 metric tons
• September: 3,124 metric tons
• October: 8,660 metric tons
• November: 8,366 metric tons
• December: 6,840 metric tons

Fish collection in 2024:

• January: 7,452 metric tons
• February: 5,860 metric tons
• March: 4,611 metric tons
• April: 2,322 metric tons
• May: 3,666 metric tons
• June: 1,272 metric tons
• July: 247 metric tons
• August: 1,157 metric tons
• September: 1,529 metric tons
• October: 836 metric tons

Last week, MIFCO said it has MVR 9.15 million in outstanding payments to 331 fishing boats.

The company said on Monday it is working to secure the money, and hopes to clear the outstanding within this week.

MIFCO said that the company is suffering financial setbacks due to the low fishing season.