The state-owned Maldives Industrial Fisheries Company (MIFCO) has revealed intentions to start direct fish exports from Addu city in the coming month.

This project seeks to tackle persistent issues encountered by local fishermen, such as insufficient cold storage and processing facilities, which have traditionally resulted in reduced prices for their catches.

MIFCO issued a statement on Saturday evening detailing continuous efforts to improve fish buying and storage capabilities. The company, together with the state, aims to enhance value-adding capacities in the country for acquired fish.

At present, fish captured in Addu city is frequently taken to Huvadhoo Atoll prior to export. The updated strategy will simplify this procedure, facilitating direct exports from Addu. Moreover, initiatives are in progress to enhance the value of fish in Addu city by year’s end.

Fisheries Minister Ahmed Shiyam emphasized during a November 2024 press conference that Maldivian fish, when exported unprocessed, fetches much higher prices in international markets following processing by other nations. He highlighted that the Maldives does not obtain a "fair price" for its raw fish exports, stressing the importance of boosting domestic value addition.

"We understand that the price we are getting is not favorable," Shiyam remarked. "By gathering the worth of fish and exporting it from the Maldives, we can significantly boost the foreign currency flowing into the Maldives."