A longer than usual Chinese fishing moratorium could reduce Hong Kong's fish supplies by as much as half, raise prices for much of what there is on offer, and leave fishermen idle until mid-September, reports The Standard.
With the aim of preserving species, the 3.5-month ban announced by the Ministry of Agriculture in January means no fishing allowed in all Chinese waters including the South China, East China, Bohai and Yellow seas.
The moratorium is a month longer than previously. It has run from June to August since 1995.
Hong Kong imported more than 3,480 metric tons of fresh and chilled fish from the mainland in the first two months this year with a worth of HKD 128.4 million (€15.2 million/$16.5 million).
Wet market vendors warned yesterday that they expect to see the supply of chilled fish from the mainland reduced by as much as half, though there will still be supplies from Malaysia and the Philippines. But prices of chilled fish will still rise from 40 to 50 percent.
Hong Kong has one of the highest seafood consumption rates in the world, ranking them second in Asia and eighth in the world.
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