Part 3/10:

The episode takes us across the causeway to Johor, Malaysia, to explore the challenges faced by local fishermen. GM Seafood, a leading wholesaler, observes that their costs have increased by around 25 to 30%. This cost hike is largely due to rising fuel prices—Malaysian government subsidies for fuel only benefit smaller fishing vessels, leaving larger boats like those operated by fishermen such as Gary to bear the brunt.

Gary’s weekly diesel expenditure now reaches about SGD 320,000, reflecting a 12% increase from last year. With increased operating days at sea, wages for crew members have also gone up, squeezing profits and forcing fishermen to raise their prices further. Gary reports profit drops of around 30%, leading him to increase his fish prices by approximately 15%.