Thailand’s vital fishing industry faces paralysis as diesel prices surge due to the Iran conflict, forcing boats to dock and threatening exports worth billions.
SAMUT SAKHON: Thailand’s multibillion-dollar fishing industry is grinding towards a standstill. A surge in diesel prices, triggered by the US-Israeli war on Iran, is pushing boat operators to the brink.
At the country’s largest fishing port in Samut Sakhon, over half the trawlers are already docked. Jumpol Kanawaree, president of the Samut Sakhon Fishmonger Association, warned those still operating will likely stop within days.
“After April 1, you may see that there may be no fish sold because the fishing boats can no longer bear the cost of their crewmen, their families,” he said. He added that the current fuel crunch is the worst crisis in decades, surpassing even the COVID-19 pandemic.
Thai diesel prices hit 38.94 baht (USD 1.19) per litre on Thursday after government subsidies ended. This is a sharp rise from 29.94 baht per litre in February before the Middle East conflict erupted.
Fisherman Boonchoo Lonluy said trips become unviable if diesel touches 40 baht a litre. Crews are already adjusting operations to conserve dwindling supplies.
“Now that the price has gone up, we’ve been trying to sail slower, which in turn resulted in a lower catch,” he stated. “We can’t live like this.”
The crisis threatens an industry that exported USD 7 billion worth of fishery products in 2024. Key destinations included the US, Japan and China.
Finance Minister Ekniti Nitithanprapas said the government is preparing a support package. This includes supplying B20 biodiesel and palm oil to prevent further price surges.
Thailand holds about 100 days of oil reserves, according to officials. At dawn this week, some boats using previous fuel reserves were still seen bringing in catches of shrimp, mackerel and squid.
Fisherman Prariyes Maneesumphan summarised the dire situation for those still working. “If we can’t take more hits, we have to dock because of the fuel price,” he said.
