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With middle east peace talks underway in Pakistan, there are fresh hopes that shipping will start moving freely through the Strait of Hormuz soon. But with fuel prices surging for weeks, many businesses are already fighting to survive. Asia editor Karishma Vyas filed this special report from Thailand, where the country's multi-billion-dollar fishing industry has come to a virtual standstill.

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00:04For half a century, Sompong Ersachai has been fishing in the Gulf of Thailand.
00:10The sea is the lifeblood that sustains the fishermen. It gives us a lot. I've been living with the sea
00:17my whole life.
00:19Sompong says these waters have always been kind to him. But today, a man-made crisis is upending his life.
00:28We can't go out to earn money. The fuel is too expensive, and we never know how much seafood we'll
00:34get.
00:35Some days we get a lot, but others we lose money.
00:40Fuel prices have more than doubled here in the last month because of the war in the Middle East.
00:45Sompong hasn't been able to go out for weeks, but he wanted to show us that he's not the only
00:51one.
00:53Boat after boat is stuck on shore.
00:57We came across one man trying his luck.
01:02This fisherman tells us that he's been out here since four o'clock in the morning.
01:06That's five hours already, and he has very little to show for it.
01:10He's going to end up spending more on the fuel to get out here than he'll earn selling his catch
01:15today.
01:17The fuel is so expensive. I can't bear it anymore. I'll have to find a job on land. It's the
01:23only way I can survive.
01:26Across Thailand, tens of thousands of small fishermen are struggling to stay afloat.
01:31The Ministry of Agriculture says it's trying to secure alternatives to diesel.
01:37The government is trying to increase the B20 fuel amount so that fishermen can get access to the cheaper fuel.
01:45B20 is a more affordable mix of diesel and biodiesel like vegetable oil.
01:51But industry experts say a 20 cent saving per litre isn't going to solve the problem.
01:58We've told the government that if they don't help the fishing industry, then when they fail, it will cause a
02:04chain reaction and affect others as well.
02:07That impact is already being felt by hundreds of thousands of migrants who work on these boats.
02:15It's also hitting the local fish markets.
02:19For me, business has gone down by 20 to 30 percent.
02:23I used to sell 100 kilos of seafood. Now it's gone down to 80 kilos.
02:28People have less money to buy.
02:32Many here say they know little about the war in the Middle East or why it started.
02:37What they do know is that they are paying the price.
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