Pangasius price has the highest increase in the US market

The price of all 10 most popular seafood in the US has all risen this year. Pangasius has the highest increase, with the main supplier being Vietnam.

Pangasius fillet, a popular seafood product, experienced the highest increase in price in the US market. Photo: TL.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), due to a strong rise in demand while supply is being affected by the shortage of containers, since the beginning of this year, the price of all 10 most popular seafood in the US market have all experienced an increase in price. Some products in particular have shown signs of a very significant increase in value.

The seafood which has the strongest increase in value is the shark catfish. A shark catfish’s fillet of standard humidity, 5-7 ounces, is sold for USD 3,40/pound on October 5th, a 97% increase compared to the USD 1,73/pound rate at the beginning of January 2021.

Pangasius is mainly imported into the US from Vietnam. The country accounts for approximately 90% of pangasius imports into the US market.

Aside from the pangasius, some products that are also imported into the USA from Vietnam have also experienced a significant increase in price in this market compared to the beginning of this year. Specifically, the Asian blue crab increased 84% (Vietnam being in the Top 6 countries supplying the Asian blue crab for the US); whiteleg shrimp increased 28% (Vietnam being in the Top 4 countries supplying shrimp for the US).