An epidemic is sweeping across South east Asia, leaving a trail of dying prawns in its wake. But the UAE remains blissfully unaffected – for now – with many local traders predicting a fall in the price of the crustaceans over the next few months.
A disease called early mortality syndrome, which slaughters prawn populations wholesale, has spread west from China to infect supplies from Vietnam, Malaysia and Thailand. This has pushed prawn prices in the United States up to a 14-year high, Bloomberg News reported.
But at Abu Dhabi’s Mina fish market, where row upon row of prawns of different hues are stacked, traders see the next few months as a peak time for their trade.
Several fish traders said they were unaffected by supply issues in South east Asia because their prawns were sourced from Oman, India and Pakistan.
Each mentioned the role of seasonal factors in the price of prawns. As cold-blooded creatures, prawns seek warmth. That means in cold weather they move closer to the bottom of the ocean, where temperatures are higher, making them harder to catch. This makes them rarer and more expensive. Likewise, prawns are close to the surface of the water when the Arabian Gulf sun blazes, making the fisherman’s job easier.
“In May, June and July, there are prawns coming in from everywhere – there are too many prawns,” said one trader.
Another predicted that small Omani prawns, which currently sell for Dh55 a kilogram, would retail for Dh35 a kilogram in July – a healthy discount. Indian tiger prawns were the most expensive at one stall, retailing for Dh80 a kilogram. But their prices are also likely to drop in the summer months, the trader said.
All traders pointed out that prices varied on a day-to-day basis at the market, as the day’s catch affects stocks.
Traders said they worked 12 to 14 hour days. Prawns sell at a discount towards the end of the day, but the freshest stock can be had early in the morning.
A few restaurants buy stock when the market opens at 3am. Most buy fish on a fixed-price quota basis from an experienced trader they have developed a relationship with. In effect, they buy a fish derivative – a hedging product designed to reduce the restaurant’s exposure to piscatorial volatility.
For now, the fish market is able to serve up a consistent supply of prawns. But if early mortality syndrome spreads further west, fishermen, traders, restaurants, consumers – and the prawns themselves – will all suffer.
abouyamourn@thenational.ae
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