Oil Supply Fears Send Taiwan Fish Prices Surging, Keep Fishers Ashore
Concern that the war over Iran will send oil prices even higher has many fishers in Taiwan worried about financial losses. Many see little point in even putting out to sea, with the resulting drop-off in catches helping to drive a surge in fish prices.
Fishing Port Struggles as Rising Oil Prices Hit Industry
REPORTER:
Early each morning, Fukang Fishing Port on the southeast coast comes to life with crowds looking for the best deals and the freshest catch. But times are hard for everyone here, from the fishers to the customers.
REPORTER:
Fishing boats need fuel to get out to sea—and war in the Middle East means prices are up. Fishers here worry that as the war grinds on, prices could go up even further, making fishing not worth the cost. Already, some fishers are choosing to stay on land.
Mr. Lin (FISHER):
We’ve struggled to catch anything for half a year
so the boats are all tied up.
If you go to sea, you lose money.
REPORTER:
The catch here and in nearby southeast ports is down almost a third since the Lunar New Year just a month ago. The result: soaring prices—something unusual for this time of year.
Mr. Wang (WHOLESALER):
The price rise depends.
Anywhere in the range of 20%-80%.
It mainly depends on how big the catch is
and market demand on that day.
REPORTER:
Oil isn’t the only reason boats are staying in harbor in this part of Taiwan. The local fishery association says weaker demand is also making fishing unprofitable, even as fish prices go up.
Mr. Tsai (FISHER):
Operating costs depend on the type of boat and how far they go.
And really, lately, fish have been harder to catch anyway.
REPORTER:
In this corner of southeast Taiwan, at least, there is some good news for fishers worried about oil prices who decide to stay ashore. The local fishing association will give them subsidies of anywhere from around 6 hundred to 6,000 US dollars.
The money will let them stay ashore for up to 120 days this year. For everyone else depending on the fish business—and for consumers—though, there’s no such luck. Only the hope that normal supplies return soon.
Ryan Wu and John Van Trieste for TaiwanPlus.
