Market Overview
The
low supply and high demand for Asian Highback Arowanas increases the
value of the fish, and makes it a profitable investment now and in the
years to come. The low supply of Asian Highback Arowanas is due to the
fact that the fish is facing extinction and the breeding and trading of
the fish is limited and controlled by the Convention of International
Trade and Endangered Species (CITES).
Because Asian arowanas are protected by CITES as an endangered species, the trade of Arowanas is limited which in turn increases the value of Asian Arowana. The high demand for Asian Highback Arowanas is because of the high cultural value and ornamental value . The Asian Highback Arowanas are one of the most expensive fish in the world, thus owning the fish represents class and status.
Furthermore, the demand for this ornamental fish has been enormously high; Singapore as one of the major exporters of ornamental fish, and has exported more than 30% of the total global exports. Among all the ornamental fish species, owners of aquariums dream of petting an Asian Arowana.
The government of Malaysia has also recognised the vast potential in the breeding of Arowana fishes, identifying ornamental fish rearing as a business worth exploring. The current demand of the market has exceeded the quantity available, thus the price of asian arowanas is rising steadily. Asian Arowanas are much more expensive compared to South American, African and Australian Arowanas.
Because Asian arowanas are protected by CITES as an endangered species, the trade of Arowanas is limited which in turn increases the value of Asian Arowana. The high demand for Asian Highback Arowanas is because of the high cultural value and ornamental value . The Asian Highback Arowanas are one of the most expensive fish in the world, thus owning the fish represents class and status.
Furthermore, the demand for this ornamental fish has been enormously high; Singapore as one of the major exporters of ornamental fish, and has exported more than 30% of the total global exports. Among all the ornamental fish species, owners of aquariums dream of petting an Asian Arowana.
The government of Malaysia has also recognised the vast potential in the breeding of Arowana fishes, identifying ornamental fish rearing as a business worth exploring. The current demand of the market has exceeded the quantity available, thus the price of asian arowanas is rising steadily. Asian Arowanas are much more expensive compared to South American, African and Australian Arowanas.
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