A surge of diesel prices triggered by the U.S.-Israel war on Iran is pushing Thailand’s multi-billion-dollar fishing industry towards a standstill. Fisherman have warned that their boats could be idled within days unless the government steps in.
At the country’s largest fishing port in a central province on the coast of the Gulf of Thailand, over half of the fishing trawlers have already docked, and those still operating will likely top work within days, according to Jumpol Kanawaree, president of the Samut Sakhon Fishmonger Association.
“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. “They won’t be able to make ends meet.”
Government To Support Fishermen
Thai diesel prices reached 38.94 baht ($1.19) per litre on Thursday after government subsidies ended. This was a rise from 29.94 baht per litre in February before the conflict in West Asia erupted.
If diesel prices touch 40 baht per litre, fishing trips will become unviable, and some boat crews are already adjusting their trips to conserve fuel, said fisherman Boonchoo Lonluy.
“Now that the price has gone up, we’ve been trying to sail slower, which in turn resulted in a lower catch,” he said.
“We can’t live like this.”
According to officials, Thailand is left with about 100 days of oil reserves.
Thailand’s Finance Minister Ekniti Nitithanprapas said on Wednesday that the government was preparing a package to support the fishing industry, including supplying B20 biodiesel and palm oil to prevent further hikes in diesel prices.
$7 Billion In Exports
Samut Sakhon’s fish market sells over 800 tons of fish brought in from 22 coastal areas each day, Jumpol said. He added that the current fuel crunch has been the worst crisis in decades, more crippling than the COVID-19 pandemic.
“If we can’t take more hits, we have to dock because of the fuel price,” fisherman Prariyes Maneesumphan said.
Government data has shown that Thailand exported $7 billion worth of fishery products overseas in 2024, to nations including the U.S., Japan, and China.
(With inputs from Reuters)
