MIFCO Disburses Over MVR 31 Million to Fishermen for May 2026 Catches

News

The Maldives Industrial Fisheries Company (MIFCO) has successfully distributed over MVR 31 million to local fishermen for catches weighed during May 2026, according to official statistical monthly data released by the state fisheries corporation.

The report reveals that a total of 693 fishing vessels docked to weigh their catches at MIFCO's regional facilities last month. Collectively, these vessels brought in 1,791 metric tons of fish, generating a total payout of MVR 31,081,853 for the fishing community.

Skipjack tuna (Kalhubilamas) remained the dominant contributor to last month's supply. A total of 367 vessels weighed 1,708.9 metric tons of skipjack tuna, accounting for the lion's share of the monthly revenue with MVR 29,063,153 directly distributed to fishermen for this catch category alone.

The yellowfin tuna (Kanneli) sector also provided key secondary income streams split into distinct weight categories:

1. Yellowfin Tuna (above 10 kg): 109 vessels weighed 6.9 metric tons, earning a combined payout of MVR 138,000.
2. Yellowfin Tuna (above 15 kg): 217 vessels weighed 75.2 metric tons, securing a more substantial total payout of MVR 1,880,700.

MIFCO noted that its revised fiscal management framework is working efficiently, assuring the public and the fishing fleet that it remains committed to maintaining a structured, timely payment schedule for all registered vessels catching fish across the Maldivian waters.