Fuel costs nip fishmongers ahead of Good Friday frenzy
Fishermen are starting to feel the effects of the fuel crisis, but they say customers planning a Good Friday feast shouldn’t expect a wave of price increases just yet.
While the seafood rush for Easter begins in South Melbourne Markets, the last line of defense of rising fish prices, the increase in diesel costs of fishing trawlers is starting to be reflected on fishermen.
Manager John Kyzintas said fish prices and transport costs at South Melbourne Seafoods had risen by 10 to 15 per cent since the fuel crisis began.
However, customers should not expect to see a price increase when they go to buy fish because the business is incurring increased costs.
“Fish is always a little bit more expensive at Easter time – supply and demand. Fuel costs haven’t hit us yet so far,” Mr Kyzintas told AAP.
The pinch point could come in the winter months, when catch hauls are down to a quarter, he said, but harsh weather means boats have to use twice as much fuel.
But for Will Olver, manager of Gem Pier Seafood, rising fuel costs are already starting to bother him.
Coming from a commercial fishing family, he said fuel costs have increased by up to 50 percent, doubling wholesale prices for some popular fish species.
“We can’t pass that cost on to the customer. They won’t pay it,” Mr. Olver said.
“But volumes have increased, workload has increased and wages have increased.”
The fisherman said his business had to switch to purchasing different species that were of the same quality but cheaper.
“We’re making less money, sometimes no money at all,” he said.
Like many other companies, the business is delaying buying on the wholesale market for as long as possible, hoping wholesalers will get nervous and drop prices before Good Friday.
“In a crisis like this, clients go into a conservative mode. They try to hold on to as much wealth as they can,” Mr. Olver said.
He noticed that up to 30 percent of customers were shifting from higher-end products to lower-value products.
It comes after A Raptis & Sons Group, Australia’s largest wild prawn operation, announced its closure after six decades due to oversupply of prawns, low catch volumes and rising costs in 2022/23.
The New Sydney Fish Market is expecting a healthy 60,000 visitors to turn out for seafood delights on Good Friday.
Fuel prices soared after the US-led war against Iran disrupted shipping in one of the world’s largest oil corridors.
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