Seafood Importers Are Looking For Alternative Product To Replace Seafoods

Fresh Whole Catfish

Seafood

Colombia

Market & Price Trends

Nicolas Parra

Published Jun 11, 2022

According to several seafood importers from Alimentec, one of the international trade fairs for the food industry in Colombia and Latin America, most of the importers are concerned about having a lot of stock (mainly pangasius), which is pushing local prices down and making most of them think twice before placing new purchase orders. Some companies have decided to buy locally from existing stocks.
The exchange rate is a constant preoccupation for importers, having it at nearly the US dollar 4,000 against the Colombian Peso. A lot of comments concerning presidential elections pointed out that if a left-wing candidate wins (Petro), the exchange rate could skyrocket, making things far too complicated. Some have expressed big concerns about inflation in Colombia.
Big importers are already branching out into red meat territory - beef and pork, they want to have a broader market. Pork is perceived as a cheap alternative protein. Most cuts come from Argentina, Uruguay, and the USA.
One of the top 3 importers is looking for options to replace pangasius with another “cheap, white fish fillet”, they are open to suggestions. Moreover, there is genuine interest in looking for commercial opportunities for Colombian Tilapia in International markets. Colombia imported USD 31 million worth of pangasius in 2021 and USD 16 million between January and April 2022.