Pundits warn fish prices to double in next five years unless foreign fishermen stopped from intruding into Malaysian waters

KUALA LUMPUR, July 22 — The price of fish is likely to become even more expensive in local markets if Putrajaya fails to curb trespassing foreign fishermen into Malaysian waters, which have led to the theft of 50 per cent of the country's marine resources.

In a news report today, Utusan Malaysia cited Professor Datin Paduka Fatimah Mohamed Arshad, a consultant fellow at the Institute of Tropical Agriculture and Food Security in Universiti Putra Malaysia warning that Malaysia is expected to fish prices in the country is expected to soar in the next few years due to as local fishermen lack the capital to explore wider seas and increasing competition from neighbouring nations.

“This ‘theft’ crisis of our marine resources has persisted for too long and requires long-term solutions to avoid a shortage that would inevitably lead to price hikes.

“When we fail to bring enough fish ashore and foreign fishermen catch fish in our waters, they will then export the fish back to us, undoubtedly raising food prices,” she was quoted as saying.

Economist Professor Emeritus Dr Barjoyai Bardai told Utusan Malaysia that fish prices could double within the next five years due to the continuous local appetite to consume seafood as a protein source.

“What is crucial now is ensuring sufficient fish supplies, as shortages will inevitably drive prices higher,” he was quoted as saying.

He stressed the importance of initiatives to attract more fish into Malaysian waters to facilitate local fishermen in catching fish and bringing them ashore.

“We shouldn't focus too much on catching fish outside our fishing grounds like international waters. Instead, we should focus on initiatives to attract fish closer to our shores.

“This way, we can avoid disputes over marine resources with other countries, as long as the fish are not caught, it's hard to say it's our fish, so it's important to ensure that marine animals are close to our area,” he was quoted as saying.

Utusan Malaysia previously reported Malaysia’s massive RM823.88 million losses in the fishing industry, attributing it to intrusions by foreign fishermen from 2020 to 2023.

The newspaper cited studies by the Kampung Acheh Fisheries Research Institute and the Sea Around Us Report that found only 50 per cent of Malaysia’s marine resources landed in the country, with the rest being taken by foreign fishermen to their respective countries.