Singapore fresh fish prices up 20% this year; more increases expected until Chinese New Year

Singapore fresh fish prices up 20% this year; more increases expected until Chinese New Year


“Fishermen today tend to get less seafood, ” said Mister Eric Lee, proprietor of Lee Chuan Seng Fishery. “There’s less fish in the sea nowadays; (it’s) getting less and less, you will see it’s quite obvious. ”

The dwindling catch through commercial fishing made the situation worse, with fisheries citing climate change as a factor to the unpredictable  provide.

“Nowadays it is difficult to predict the harvest. Maybe due to global warming. This used to be certain 30 days you get certain seafood, but nowadays we can’t predict, ” said Mr Daniel Pe, chairman from the Punggol Fish Merchants Association.

Costs were made also higher for Indonesian fishermen this 30 days when fuel costs, already soaring since the Ukraine war, had been hiked by about 30 per cent as the govt reined in power subsidies.

“If the monsoon is actually strong, (the fishermen) don’t go out so they don’t waste the particular diesel. When the monsoon comes, we are unable to get fish, ” said Mr Shelter, who added this contributes to rising expenses as merchants still have to cover utilities plus manpower costs, but have lesser seafood to sell.

Some consumers have considered cheaper options, for example frozen or captive-raised fish. Inflation is more obvious in more costly fish as the cost difference seems substantial, said Alfred Goh, owner of Guang’s Fresh Mart.

“Over a long period of time you realise there’s been a significant increase in prices. This really is probably worse off for hot solution items like snapper, mackerel, cod and trout. Those have seen a lot greater, more significant embrace prices as compared to less expensive fishes like kembong, kuning, and seabass, ” said Mr Goh.

On Mr Goh’s store, salmon now offers for between S$30 and S$40 per kilogramme, about S$10 more expensive than just before, while cod costs almost S$50 for each kilogramme, compared to close to S$40 in the past.

“So you do observe consumers shifting towards cheaper varieties of fish. Because I think nowadays where it’s worldwide inflation, everyone’s feeling the pinch, ” said Mr Goh.


Fishmongers at Geylang Serai Market informed CNA that they have been placing fewer orders for more expensive types such as red snapper, which can cost about S$12 per kilogramme. Instead, they have been placing more orders pertaining to cheaper options such as the Indian mackerel, which costs around S$7 per kilogramme.

“Fish supply has been really unstable as of late, prices fluctuate from day to day, ” said Mister Goh. “For items which are more expensive, everyone just orders less of it. If you go around the markets, all the fishmongers are ordering in bigger quantities cheaper products. ”

Mister Goh said that rate of interest cap absorb rising costs in the initial stages, but transfer the expenses to consumers once it is no longer eco friendly.

“We’ve already been absorbing the boosting costs in terms of shipping, right along the provide chain, and to a point where it’s no longer affordable. And then we have to revise our prices up to take into account all these rising (expenses), ” said Mr Goh.

With some providers asking merchants to get a 15 per cent to 20 per cent within prices to even out fuel costs, several in the industry are adapting by diversifying their own sources for fish and looking to suppliers from other countries such as Asia, India, and Myanmar, said Mr Pe.


As the monsoon season approaches, fish prices are expected to ascend even higher, up to after the holiday time period in late January, business players said.

“If the wet season persists, and I mean, you know we’re experiencing global warming, weather’s really unpredictable. So if it does persist, then we perform expect prices to go up, I think potentially by another 10 to 15 percent probably over the next two months, ” said Mr Goh.

The price of white snapper is forecast to improve about 10 percent over the monsoon time period, with mackerel prone to see a higher leap of about 30 per cent, said Mr Lee.

“Once the monsoon season has ended, it’s the holiday season. So since need during the year-end will probably be better, prices probably won’t go down, ” stated Mr Goh.

“Once the New Year is over, I think maybe once Chinese New Yr is over in late The month of january, then you generally start to see prices dipping. ”