With an amount reaching nine million pesos, Progreso’s coastal fishing industry has begun its investments in preparation for the upcoming octopus season, which will start in less than fifteen days, aiming to overcome the downturn that this sector has been experiencing since the end of last December.
Unlike larger vessels, the nearly 900 small boats and ships that embark on trips of up to twelve hours at sea, and those that remain out for up to fifteen days, require investments ranging from five to ten thousand pesos. The most costly expenses for permit holders are fuel, ice, and bait, specifically the “Ocol” crustacean bait. This is in contrast to the larger fleet, where investments can reach up to 150,000 pesos per vessel.
Similar to several maritime permit holders, the fishing boat owners have kept around 70 percent of the boats anchored at their moorings in order to generate the necessary supplies and make full preparations for the octopus season in a couple of weeks.
TYT Newsroom
