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Mifco Temporarily Closed Due To Declining Catches ff

12 July 2005 Maldives

The decline in the catch of fish is causing losses to companies, which buy frozen tuna.

An adequate amount of fish is not available for government-owned MIFCO’s tuna canning plant and therefore the plant is temporarily closed, officials said.

“There is not enough fish to be canned in the plant and therefore the plant’s work has been halted,” said Ali Rasheed, information officer at Maldives Industrial Fisheries Company.

“This is causing financial losses to the company. Under the current conditions it is difficult to estimate the number of fish, which we will receive (for purchase). The freezing units also have to be kept on and it results in more expenditure,” he said.

He said that these days the price of fish is good in the international market, but that the supply not meeting the demand is an immense loss. The average catch of fish now is 50 tons.

The managing director of the private Horizon Fisheries Adnan Ali said that that company gets an average of eight tons of fish these days.

“Every year this time the fish catch decreases. The causes are rough seas and unavailability of bait,” he said.

The manager of the private Island Enterprises “Maizaan” Umar Maniku said: “It wouldn’t be wrong to say that these days we receive almost no fish. The fish catch is so low. The company is suffering losses due to this.”