The state-owned Maldives Industrial Fisheries Company (MIFCO) has changed the price it pays for skipjack tuna to three rates based on the size of each boat's catch.
According to MIFCO, it now pays MVR 21 per kilogram for catches of one to five tonnes, MVR 22 for five to eight tonnes, and MVR 22.75 for more than eight tonnes.
MIFCO said the new rates took effect on Tuesday at Thinadhoo in Gaafu Dhaalu Atoll, Felivaru in Lhaviyani Atoll, Ihavandhoo in Haa Alif Atoll, Hithadhoo in Laamu Atoll and Mulah in Meemu Atoll.
The company said the change reflects supply and demand in the market and follows government policy to give fishermen a fair price.
MIFCO set the price at MVR 20 per kilogram in June, raised it to MVR 21 in August and to MVR 22 in September. Only boats landing more than eight tonnes get a higher rate than in September. The smallest catches will get MVR 1 less per kilogram, and the middle tier stays at MVR 22.
President Dr Mohamed Muizzu has said the price paid to fishermen will not fall below MVR 20 per kilogram, and MIFCO said it will keep that minimum. MIFCO has not said whether the new rates will apply at other ports.