The Maldives Industrial Fisheries Company (MIFCO) has implemented changes to the pricing of its canned fish products.

According to MIFCO, this adjustment was necessitated by a significant increase in production costs following the surge in global fuel prices linked to the ongoing conflicts in the Middle East.

The company noted that fuel, which was previously available to MIFCO at MVR 11.57 per liter before last month, has now risen to MVR 14.32 per liter.

As a result, the price of a can of tuna in oil has been set at MVR 18.50, up from the previous price of MVR 17.50. With this change, a case of tuna in oil will now retail for MVR 800.

MIFCO stated that although production costs have escalated due to the challenges arising from the global economic downturn and regional instability, the company remains committed to taking measures that minimize the direct impact on the public.