Maldives Monetary Authority (MMA) reports activities of fisheries sector observed mixed developments during Q3-2022.
Fish purchases made by processing companies fell in annual terms, though the volume of fish exports increased during the third quarter. Gross value added of the fisheries sector saw growth of 27.7% during the second quarter, and exceeded pre-pandemic levels of 2019.
Q3 Statistics
- Fish purchase: 14,452.0 metric tons (19% decline compared to Q3-2021)
- 53% decline in purchase of skipjack tuna purchase
- Fish purchase decline reflected limited purchases by fish processing companies, owing to limited storage capacity
- Average price of skipjack tuna rose marginally from MVR14.0 per kilogram to MVR15.0 per kilogram
- Average price of iced skipjack tuna rose from MVR16.0 per kilogram to MVR17.0 per kilogram
- Average purchase price of yellowfin tuna bumped up to MVR89.3 per kilogram in review quarter (from MVR88.8 per kilogram per Q3-2021)
- Fish export volume increased by 2% (413.9 metric tons)
- Quarterly exports reached a total 19,372.1 metric tons
- Quarterly export of frozen yellowfin tuna at 6,505.9 metric tons
- Quarterly export of frozen skipjack tuna at 4,423.9 metric tons (declined in Q3-2022)
- Quarterly export of canned or pouched tuna at 63.1 metric tons (declined in Q3-2022)