MIFCO stated that purchasing tuna at MVR 16 per kilogram is unsustainable without government subsidies, saying its cash flow faces serious difficulties and that it may have to reduce the purchase price if international prices fall. The company reported the lowest cumulative catch so far this year, with 26,000 tonnes purchased against an annual average of 67,000 tonnes.
Tracked MVR 16 per kilogram Food prices
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
The purchase price of tuna was last reduced on 30 June.
Word for word from the report in Maldives Republic. Open the report
The state-owned fisheries company, in a statement released on Monday, said it would have no choice but to reduce the purchase price should prices fall in the international market
Word for word from the report in Maldives Republic. Open the report
Even when MIFCO was buying tuna at an average rate of MVR 16 earlier, the government was providing it between MVR 20 million and MVR 25 million per month as subsidy. And now the company needs the government subsidy to keep prices at a cert…
Although some private factories are currently buying tuna from fishermen at higher rates than MIFCO for their processing requirements, MIFCO exports 80 percent of purchased fish as raw material, so for a positive change to occur in fish pr…
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
Purchasing tuna at MVR 16 per kilogram will not be sustainable without government subsidies, Maldives Industrial Fisheries Corporation (MIFCO) has said.
Word for word from the report in Maldives Republic. Open the report
Even when MIFCO was buying tuna at an average rate of MVR 16 earlier, the government was providing it between MVR 20 million and MVR 25 million per month as subsidy.
Word for word from the report in Maldives Republic. Open the report
While the company has purchased 26,000 tonnes so far this year, the annual average was 67,000 tonnes — the company bought 72,000 tonnes of tuna last year.
Word for word from the report in Maldives Republic. Open the report
While the company has purchased 26,000 tonnes so far this year, the annual average was 67,000 tonnes — the company bought 72,000 tonnes of tuna last year.
Word for word from the report in Maldives Republic. Open the report
While the company has purchased 26,000 tonnes so far this year, the annual average was 67,000 tonnes — the company bought 72,000 tonnes of tuna last year.
Word for word from the report in Maldives Republic. Open the report
MIFCO exports 80 percent of purchased fish as raw material, so for a positive change to occur in fish prices [purchasing at higher rates] when the global market is seeing a downturn would not be sustainable
Word for word from the report in Maldives Republic. Open the report