Soaring Diesel Prices Threaten Thailand's Fishing Industry

The fishing industry in Thailand faces a crisis due to rising diesel prices, influenced by geopolitical tensions in the Middle East. With a significant portion of the fleet already idle, fishermen warn of potential standstills without government intervention, affecting exports worth billions.

The U.S.-Israeli conflict with Iran has pushed diesel prices to new heights, jeopardizing Thailand's vital fishing industry. Fishing boats, unable to absorb the rising costs, face idling, warned Jumpol Kanawaree, president of the Samut Sakhon Fishmonger Association.

Thailand exported $7 billion in fishery products in 2024, but with diesel prices climbing to 38.94 baht per liter after subsidies ended, the future looks uncertain. Finance Minister Ekniti Nitithanprapas announced potential government measures to support fishermen, including biodiesel and palm oil provisions.

With oil reserves depleting, crews are resorting to fuel-saving tactics, risking lower catch volumes. The industry's crisis reflects challenges unseen even during the COVID-19 pandemic, said fishermen facing possible shutdowns.

(With inputs from agencies.)