Maldives Fish Exports

Demand for Maldivian fish exports rise as European market recovers

  • A decline in fishing is always experienced during Ramadan, which leads to a shortage in fish exports to the European market
  • Prices of Maldivian fish products have spiraled, with frozen yellowfin tuna being sold for MVR 60 in the European market
  • MSPEA applauded the government’s MVR 100 million loan facility introduced to promote fishing

K. Male' 2020 May 11 | Mon 14:30 business 3,994

MSPEA described local fishermen as the backbone of the country’s economy - Fisheries Ministry

The demand for Maldivian fish exports have seen a steep rise following the recovery of the European market, after the measures implemented to curb the spread of Covid-19 pandemic, were eased.

This was revealed by the Maldives Seafood Processors and Exporters Association (MSPEA) via a statement on Friday, which highlighted that the demand for Maldivian fish exports had seen a drop of recent, however, it has seen a steep rise since the European market bounced back.

As such, the prices of Maldivian fish products have spiraled, with frozen yellowfin tuna, priced at MVR 25 at the beginning, currently being sold for MVR 60 in the European market.

MSPEA stated that a decline in fishing is always experienced during Ramadan, which leads to a shortage in fish exports to the European market.

It is also crucial for local fishermen to act fast and work harder to revive the frozen fish exports to maintain its place in the market as suppliers may turn to other exporters at any time.

MSPEA described local fishermen as the backbone of the country’s economy and added that this is a golden opportunity to claim their role in the industry.

Further, the association added that fishermen have the power to prevent an economic downfall in the face of the pandemic, by continuing fishing. The association commended skipjack tuna fishermen for the great courage they showed in continuing their work in the face of the challenging circumstances.

In addition, MSPEA applauded the government’s MVR 100 million loan facility introduced to promote fishing, having expressed gratitude for the government’s support towards the industry.

MSPEA represents a number of major Maldivian tuna processing companies, including Maldives Industrial Fisheries Company (MIFCO).

Last updated at: 3 weeks ago | Reviewed by: Zihnath Hassan

Comment on Article

To share a news drop us an email to [email protected] or contact us at 3007773