Libya bans its fish from the world during the summer economy

In a move aimed at curbing the rising prices in local markets, the Ministry of Economy and Trade of the Libyan National Unity Government issued a decision banning the export and re-export, as well as transit trade, of all types of fish and various marine products, for a period of 3 months.

According to a report by Ahmed Khalifa on Al Jazeera, the sudden decision came in response to the record wave of high fish prices that the country is witnessing with the entry of the summer season, which is the season in which demand increases significantly by Libyan consumers, while the supply declines or is directed towards external export to achieve revenues in foreign currency.

According to sources within the ministry, the primary goal of this step is to pump the entire local production of marine wealth into the Libyan market, which contributes to achieving a balance between supply and demand and reducing prices to be within the reach of the average citizen, ensuring self-sufficiency during the summer months when consumption doubles, and stopping speculation and smuggling of marine goods under the guise of “transit trade.”

The decision received mixed repercussions on the Libyan street and among economic circles, as many citizens expressed their satisfaction with the decision, hoping that it would contribute immediately to reducing the prices of fish such as “warata” and “manani,” which had reached record levels that were not commensurate with average incomes.

On the other hand, some merchants and exporters expressed their reservations about the decision, noting that stopping exports, even if temporary, may cause losses to the marine fishing sector, which depends on foreign markets to cover high operating costs, especially boat maintenance and purchasing fuel.

As for the implementation and follow-up mechanism, the Ministry of Economy directed the regulatory regulatory bodies, led by the Customs Authority and the Municipal Guard, to tighten control over land, sea and air ports to ensure strict implementation of the decision throughout the three-month period, while threatening violators with strict legal penalties.

The report concluded that the bet on the success of the government’s decision depends on the extent of the ports’ commitment to implementing this ban, and the ability of the local market to absorb the surplus and reduce prices in the way that the Libyan citizen experiences in his daily livelihood.