More shrimp, lower prices, Kuwait markets see prices fall to KD 40-45 per basket
Kuwaiti shrimp prices have continued to decline since the start of the fishing season last week, as increased supplies and strong consumer demand boost activity in local markets.
The Al-Kout and Sharq markets today saw the auction of around 840 baskets of shrimp, contributing to greater availability and lower prices. A basket sold for between KD 40 and KD 45, depending on size and quality.
Fishermen’s Union head Abdullah Al-Sarheed said the continued arrival of shrimp from daily fishing trips has pushed prices down compared with the beginning of the season. He expects prices to stabilize further in the coming days as supplies increase.
He noted that lower prices have encouraged purchasing, with families and consumers turning out in large numbers to buy fresh local shrimp.
Addressing calls to boycott fish purchases over high prices, Al-Sarheed said such campaigns do not accurately reflect market conditions. He stressed that fishing costs and the challenges faced by fishermen must be taken into account when assessing prices.
He attributed higher fish prices in recent months mainly to regional security conditions affecting navigation and fishing, with restrictions in several maritime areas and disruptions to transportation routes and sea lanes affecting the quantities reaching local markets.
Al-Sarheed said the impact is not limited to Kuwait, noting that fish prices have risen across several regional and international markets due to broader economic and geopolitical conditions.
He emphasized that fish prices ultimately depend on supply and demand, while fishing and operational costs make it difficult to impose artificially low prices.
He called for greater accuracy when discussing market conditions, saying the return of normal maritime conditions would help increase supply and bring greater price stability.
