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Revenues on fish export registers at USD 10.5 million

MIFCO cannery - several hundreds of locals employed at the processing site attend to produce decades old product that is still a market topper.

Central Bank - Maldives Monetary Authority (MMA) - confirms the revenues collected for fish exports were registered at USD 10.5 million for the month of June.

The Bank's "Economic Review" detailed that while the aforementioned revenue was collected for the fish exported for the month of June, the quantity was calculated around 5.8 metric ton. This is a sizeable bump compared to last year's June.

According to MMA the increase of export and revenue collected is contributed due to the rise in frozen Skip-jack Tuna export.

Fishing corporations processed around 8.2842 metric ton during the month of July which is a 77% increase compared to the same month of last year - however it's a slide in 33% compared to this year's June.

  • Ahmed

    Good news. However, the word, "capped" may not be appropriate in the circumstance as it would suggest that the authorities have determined that the revenue from fish exports cannot exceed USD 10.5 million. To cap means to place a limit or restriction on the something.

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