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Although the price of seafood is rising globally, the increase inseafood product prices lags far behind the increase in productioncosts for most products. The global market price for certainspecies like herring and farmed salmon have even fallen of late.While an expanded quota is behind the price decline of herring, anumber of complicated reasons explain that in case of farmed salmon- herring vessels are facing a combination of increased fuel costswith falling prices, while salmon farmers are paying more for feed,electricity and transport as salmon prices also fall. However, what will happen if and when the global market for oil andother commodities normalises? Rising energy costs and inflation In Vietnam, shrimp and pangasius farmers are not only facing a 25per cent inflation rate but a saturation in the global markets thatmakes the process of boosting export Rice Protein Concentrate a slow one. As most pangasius contracts are settled in US dollars, theindustry's best hope right now is a surge in the American dollar. Just before this week the price of crude oil that had peaked at USD135 per barrel in the second half of May dipped to around USD 120per barrel - a drop of USD 15 between the two time periods, whichmarks a significant change. A falling demand for oil, rather thanfisher protests around the world, explains the fall in crudeprices. However, a drop in marine fuel consumption linked withcruise, fishing and other vessels focusing on economicaloperations, or even staying at harbour, should very quickly bringabout an increase in fuel inventory and a fall in prices. Any vessel can substantially save by adopting certain cost-cuttingmeasures, such as spending more time cruising towards fishingsites, catching quota only in good weather conditions, keeping thehull clean, and properly maintaining the engine. Such methodsshould ultimately help in dampening fuel prices.