Abundant Shrimp Supply ... Presses Prices
Kuwaiti shrimp prices have continued their downward trend since the start of the fishing season last week, driven by increased supply in the markets, amid active purchasing activity and strong consumer demand for the local product.
The markets in Al-Kout and East Kuwait saw the auctioning of approximately 840 baskets of shrimp today, contributing to an abundant supply and lower prices. The price per basket ranged between 40 and 45 Kuwaiti Dinars, depending on size and quality.
Abdullah Al-Sarheed, head of the Fishermen’s Union, told Al-Rai that the continuous influx of shrimp from daily fishing trips has led to a decline in prices compared to the beginning of the season. He anticipated that markets would see further stability in the coming days as the volume of supply continues to rise.
He noted that the price drop has stimulated purchasing activity, with both markets witnessing widespread interest from connoisseurs and families keen on buying fresh shrimp, given the availability of sufficient quantities to meet consumer needs.
On a parallel note, regarding calls to boycott fish purchases due to high prices, Al-Sarheed stressed that such appeals do not reflect market reality. He emphasized that those unfamiliar with the nature of maritime work and the challenges faced by fishermen cannot accurately judge the reasons behind price increases.
Al-Sarheed added that while everyone has the right to express their opinion, “those who are unaware of sea conditions, fishing circumstances, and the security situation in the region will not be able to assess the situation correctly.”
He clarified that the current price hikes are primarily due to security and regional conditions that have affected navigation and fishing activities. He explained that several maritime zones are experiencing movement restrictions, alongside disruptions to transport routes and sea passages, which have impacted the quantity of fish available in the markets.
He further noted that rising prices are not limited to Kuwait but extend to many countries in the region and even global markets, affirming that economic and regional conditions are affecting fish markets across various nations.
He stressed that fish prices are subject to supply and demand mechanisms, and it is impossible to impose unrealistic prices given the high costs of fishing and operations. He called for precision before issuing calls or statements that could harm fishermen and the local market, reiterating that everyone hopes for a return to normalcy, which would positively impact supply abundance and price stability.
