Surging Seafood Prices in Colombia

The inflation and the exchange rates of Colombian Pesos (COP) to US Dollars affect the prices of imported seafood in Colombia. Pangasius and Catfish are facing high price increases in Colombia, reaching 15-20% YoY inflation for whole fish and 20-25% YoY increase for fillets. Colombian tilapia has also increased in price by 55% YoY, a higher rise than the one presented on international seafood. The high local prices of tilapia and other seafood create an opportunity to import higher volumes from Asian markets.