Despite 826 Tons of Seafood Entering Kuwait Markets, Prices Remain High

KUWAIT CITY, Aug 10: Limited local catches, restrictions on deep-sea fishing, deferred-payment sales and the auctioning of imported fish are among the key factors keeping fish and shrimp prices in Kuwait at relatively high and stable levels, according to market officials.

Under the directives of Minister of Commerce and Industry Osama Boodai, emergency and commercial inspection teams intensified monitoring of local fish markets, including an inspection tour of Al-Kout market in Ahmadi Governorate, to oversee shrimp auctions and ensure compliance with regulations.

Faisal Al-Ansari, director of the Commercial Control Department, said inspection teams had been present at the market from the early morning to monitor auctions and verify that sales procedures were being properly followed.

He said more than 200 baskets of shrimp were sold at the Al-Kout auction, with the price of each basket ranging between KD 40 and KD 45. Al-Ansari added that fish and shrimp were available in good quantities in local markets and described current prices as affordable for consumers.

He stressed that protecting the interests of citizens and consumers remains the priority and said inspection teams would continue monitoring markets and auction operations.

Hamoud Al-Hamdi, supervisor of Shift A at the East Market, said approximately 826.317 tons of local and imported fish and shrimp had been supplied to Kuwait’s markets over about 40 days since the beginning of the local fishing season.

He said local fish supplies from July 1 to August 9 amounted to about 201.450 tons, while local shrimp reached 58.367 tons during the first nine days of August.

Imported supplies during the same period included approximately 449.800 tons of fish and 116.700 tons of shrimp, indicating continued availability of imported seafood in the market.

Al-Hamdi attributed the continued stability of prices at levels close to those recorded before the local fishing season to several factors.

The first is the limited local catch, resulting from restrictions on fishing areas, with fishing currently limited to designated zones around 12 miles from the shoreline. Fishermen are also prohibited from entering deeper waters amid the geopolitical conditions affecting the region.

Another factor is the deferred-payment sales system. Al-Hamdi said restaurants, companies and street vendors often purchase large quantities of fish and shrimp on credit, resulting in the rapid withdrawal of available supplies and leaving less surplus in the market to put downward pressure on prices.

He called for greater use of K-Net payment devices in fish transactions, saying this would help authorities better track sales, monitor prices and improve transparency in the market.

Al-Hamdi also identified the auctioning of imported fish and shrimp as another factor that can contribute to higher prices.

He explained that competition and bidding during auctions can increase the price of imported seafood before it reaches consumers. Since imported fish competes with local products, higher import prices can also reduce downward pressure on local fish prices.

He called for reconsidering the requirement that imported fish be sold through auctions, questioning why seafood should be subject to such a mechanism when other imported food products, including meat, vegetables and fruits, can be traded directly.

According to Al-Hamdi, removing the imported fish auction would not mean ending regulatory oversight. Authorities could continue monitoring prices, invoices, sources and food safety while allowing importers to sell directly, potentially increasing competition and helping reduce prices.

Key figures

Market officials identified four main factors affecting seafood prices: limited local catches, restrictions linked to regional conditions, deferred-payment sales and imported seafood auctions.