Fish purchases by fish processing companies have increased in the first quarter of 2019, according to the Quarterly Economic Review of Maldives Monetary Authority (MMA).
MMA said activity in the fisheries sector showed mixed developments during the first quarter this year, as fish purchases by fish processing companies posted an increase during the quarter, while the volume of fish exports registered a decline. In this regard, MMA said after a turnaround growth observed during the previous quarter, fish purchases continued to increase, totalling 25,000 metric tonnes in the first quarter.
Meanwhile, MMA revealed following a positive annual growth in the last quarter of last year, the volume of fish exports declined by 4 percent and totalled 16,872.9 metric tonnes during the first quarter. The amount was largely driven by a substantial decline in frozen skipjack tuna and; fresh, chilled or frozen fish, although it was partially offset by a significant increase in the volume of fresh or chilled yellowfin tuna exports, according to MMA.