Seafood prices continue to increase due to low supply

Prices of seafood in the Philippines increased last October 2019 and is projected to increase even this year 2020. The reason is that there is low supply due to the COVID-19 pandemic as businesses in the regions where tilapia is abundant have been closed down. There are a couple of suppliers still operating however they are understaffed. The price increase is projected until the end of December 2020. Currently, tilapia wholesale price is at 100php/kg, which is almost the same price as last December 2019.