Balearics fishing boats squeezed by €1.4 diesel

Fishing boats across the Balearics are being pushed close to making a loss as professional fishing diesel reaches €1.4 per litre this week. The Balearic Federation of Fishers’ Guilds raised the alarm in Palma on Thursday, saying fuel now accounts for more than half of a vessel’s direct operating costs. It says the rising price threatens the economic survival of the islands’ fleet.

The cost of fuel has climbed steadily since late June, according to the federation. In previous months, the price per litre still left guild boats with a minimal operating margin.

Federation president Domingo Bonnín acknowledged the public aid already given to the sector, but said it remains insufficient against sharply rising costs. Fishers cannot add the extra fuel cost to the final price of fish at auction, leaving many sailors on the verge of working at a loss.

The federation wants talks with institutions to continue. It is calling for compensation schemes to be examined, current support to be reviewed and new tax exemptions to be considered to keep Balearic fishing viable.

Topics: Politics

Source: Europa Press / Mallorca.com