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17 / 08 / 2017
2:20 pm

Denpasar

Scattered clouds
  • Scattered clouds
  • Temperature: 28 °C
Reported on:
Thursday, August 17, 2017

Local Fishermen Face Losses as Lobster Prices Plummet

Hundreds of fishermen on the coast of Tabanan claim they are losing money as lobster prices have plummeted over the last few days.

Much of the local catch is sold to exporters, bound for Taiwan and China however local buyers may also profit from the current price drop. The average yield of local fishermen is 4-6 kilos, unless they can catch more or get a guarantee of Rp200 – Rp250,000 per kilo, the fishermen lose money. Yields can be as high as 10kg on a single fishing trip but this is above the average. Prices have been averaging about Rp300,000 per kilo but have fallen over the last few days to Rp150,000, the cause of this price drop is unknown, but local fishermen know that lobster prices remain high in retail outlets overseas and are reluctant to sell to exporters at this price.