Tuna Fish Prices in Socotra Plummet Under the Domination of Emirati Companies

Yemen Monitor / Newsroom:

The tuna fish markets in the Socotra Archipelago are witnessing a sharp decline in prices, with the famous fish that fetch record prices abroad being sold for meager prices, not exceeding hundreds of Yemeni riyals compared to thousands of dollars globally.

Local fishermen face significant pressure from the Emirati company, Prime, which controls the purchase of fish, forcing them to sell their catch at incredibly low prices that do not cover the costs of fishing. While a single tuna fish is valued at about five thousand dollars in global markets, its price in Socotra does not exceed one hundred dollars.

The Emirati company transports the fish abroad and sells it at high prices reaching six thousand dollars, profiting from the archipelago’s rich marine resources without providing any economic returns to the local population.

Fishermen stated that their economic situation has deteriorated significantly, as there are no longer real opportunities to achieve a decent income amid the dominance of foreign companies, which increases the suffering of the residents and deepens their living crises.

This situation reflects Socotra’s suffering from economic dependency and external control over its natural resources, in the absence of protection mechanisms for local fishermen and safeguarding their interests to ensure them a dignified life and a better future.