The Global Seafood Expo (SEG) officially closed in Barcelona on April 23, 2026. As an annual weathervane for the global seafood industry, this edition of the exhibition delivered key market signals including surging pink salmon prices, tight pangasius supply, and stable market trends for Argentine red shrimp and Peruvian squid. On-site interviews by UCN fully unveiled the new landscape of global seafood trade in the first half of 2026.

1. Wild Pink Salmon Hits Record Highs; Chinese Manufacturers Shift to Farmed Alternatives

A double decline in wild salmon output from the United States and Russia has sent pink salmon prices soaring to historic highs.

• Alaska’s projected catch stands at 125.5 million fish, a sharp drop from 195 million last year.

• Russia’s estimated output ranges from 204,000 to 260,000 metric tons, far below the 335,500 metric tons recorded in 2025.

Chinese salmon processors stated that if pink salmon prices exceed $5,000 per ton, they will switch to frozen farmed salmon from Chile as an alternative raw material. Currently, raw materials are prioritized for contractual orders with extremely low price flexibility.

2. Fierce White Shrimp Competition Between Ecuador and India; U.S. Market Becomes Core Battlefield

Ecuadorian white shrimp has secured the top position in the U.S. import market, while India is striving to defend its market share, intensifying competition between the two major producing regions.

• Ecuador: 50% of its output is sold to China and 24% exported to the U.S., with logistics lead times of only 7–10 days, enabling flexible small-batch restocking.

• India, restricted by EU regulations, is focusing on the U.S. market and will compete head-to-head with Ecuador in the deep-processing sector.

Leveraging geographical advantages, Ecuador has become the top choice for U.S. importers. The two sides will continue to compete over high-value-added products and market share in the future.

3. Pangasius Supply Shortage to Last Until September; Chinese Buyers Hold Pricing Power

Updates from Vietnamese producing areas indicate tight pangasius supply will persist until September, with relief only coming after new seasonal fish hit the market in summer.

• Though fry prices have declined, low survival rates in farming and high feed costs leave processors with little room for price cuts.

• Pangasius prices operate independently of whitefish fluctuations. Dominated by Chinese buyers, demand remains steady with limited upward pricing momentum.

Squeezed by rising costs and restrained pricing power, the industrial chain faces compressed profit margins, and dramatic price fluctuations are unlikely in the short term.

4. Argentine Red Shrimp Prices Flat Year-on-Year; Costs Nearing Market Ceiling

The 2026 Argentine red shrimp fishing season has launched smoothly with healthy fish stocks and reduced labor disputes, keeping quotations largely unchanged from last year.

• Land-frozen whole shrimp: $6.50–$6.75/kg

• High-grade vessel-frozen shrimp: Over $7.75/kg

Rising costs for fuel, labor and packaging have pushed industry costs past $4.00–$4.50/kg. Once costs exceed $5.00/kg, market affordability will be strained, capping further price growth.

5. Peruvian Squid Market Stable; Larger Sizes & Stricter Compliance Controls

Peruvian squid prices remain steady at $0.85–$1.00/kg, well-supported by solid global demand.

• Most catches this year weigh over 2 kilograms, reflecting improved marine resource conditions.

• Peru has strengthened quota management and cracked down on illegal, unreported and unregulated fishing, leading to tighter compliant supply.

• Early fishing moratoriums for Argentine squid create no notable substitution effect, as it differs from Peruvian squid in consumption scenarios.

Exhibition Summary & Market Outlook

• Supply Side: Shrinking output of wild salmon and pangasius creates significant upward price pressure.

• Competition Side: The white shrimp market is undergoing restructuring, with logistics efficiency and deep-processing capability defining competitiveness.

• Cost Side: Rising costs for red shrimp and squid have set clear price ceilings.

• Pricing Side: China holds dominant pricing power for pangasius, keeping its market trend independent.

For global seafood traders, processors and buyers in 2026, it is critical to prioritize pink salmon alternative solutions, monitor the September supply turning point for pangasius, and track the cost red line for red shrimp. Keeping pace with global supply chain changes will help mitigate risks and seize market opportunities.