Tilapia- FAO Global tilapia
FAO-Globefish - Tilapia Market Overview
Editor/Mohamed shihab
Market withstands price pressures amidst strong demand
The global tilapia market remains stable despite tight supplies, with especially strong demand in Africa driving exports from China and Indonesia. The United States of America is seeing an increase in the value of its tilapia imports although volumes have declined due to reduced demand, higher costs, and regulatory changes. Meanwhile,
Brazil’s tilapia exports continue to grow, especially to the United States.
Supplies
Supply in China’s Guangdong Province has remained stable, but the overall availability continues to be tight. Meanwhile, tilapia suppliers have explored the possibility of relocating production to Viet Nam, but found this option unfeasible due to China’s established supply chain advantages.
Markets and trade
Chinese seafood exporters are preparing for the possibility of new US tariffs on seafood, following the electoral victory of President Donald Trump. However, in the long term, the tilapia industry will remain resilient, being unlikely to be greatly affected by proposed tariffs as many other countries have emerged as important buyers. Interestingly, when converted to USD per kilogram, export prices have seen a slight uptick after a small decline in November. This underscores the influence of currency fluctuations on global market dynamics.
Côte d’Ivoire continues to be the largest buyer of Chinese frozen whole tilapia; while the volume traded in the first nine months of 2024 has decreased by four percent, the value has increased by seven percent as compared to the same period in 2023. Other African countries are emerging as significant buyers, with Burkina Faso and Mali increasing their tilapia imports from China by 31 percent and 76 percent, respectively, year-on-year.
Increased prices were especially pronounced for larger-sized fillets during January–September 2024. As a result, the frozen tilapia segment has benefitted from this trend, with both China and Indonesia increasing shipments and expanding their share of the global market. The United States has seen a 27 percent year-on-year rise in the value of frozen tilapia fillets from Indonesia, while the total value of frozen whole tilapia from China has grown by 31 percent year-on-year.
United States of America
Import volumes of fresh and frozen tilapia fillets into the United States have declined in the first nine months of 2024. This downturn can be attributed to a combination of factors, including reduced consumer demand, higher operating costs, financial difficulties within the industry, and evolving regulatory changes that have added further strain on the market.
According to the National Oceanic and Atmospheric Administration (NOAA), total US tilapia imports during the first nine months of 2024 amounted to 128 731 tonnes valued at USD 530 million. This represented a 0.7 percent decrease in volume, but an 8.38 percent increase in value compared to the same period in 2023. China, the largest supplier, shipped 84 747 tonnes worth USD 269 million, reflecting a 2.4 percent decline in volume but an 11.6 percent rise in value. Colombia ranked second, sending 11 322 tonnes valued at USD 84 million, showing a 13 percent drop in volume and a 2.5 percent decrease in value, year-on-year. Notably, the fresh fillet segment, with 14 506 tonnes worth USD 115 million, experienced a 17 percent decline in volume and a 6.5 percent decrease in value compared to the previous year.
Latin America
Between January and September 2024, Brazilian tilapia exports totalled 8 583 tonnes valued at USD 40.1 million, according to data from the Brazilian Fisheries Association (PEIXE BR). The fresh fillet segment led exports during this period, with 3 548 tonnes worth USD 27.8 million. This marks continued growth since 2022, further solidifying its position as a leading product, particularly for the US market. The value per kilogram of tilapia fillets reached USD 7.89 in Q3 2024, up from USD 6.99 during the same period the previous year. The second-largest product was frozen whole tilapia, with 3 489 tonnes valued at USD 9.5 million. The US market absorbed 83 percent of the volume and 93 percent of the value of tilapia products from Brazil, far outpacing other buyers such as China, Taiwan Province of China, Japan and Canada.
Elsewhere in Latin America, the Costa Rican tilapia industry was adversely impacted by an import alert by the US Food and Drug Administration that prohibited shipments during the peak summer months. This regulatory setback further exacerbated the challenges faced by suppliers, reducing their ability to meet demand during that critical sales period. In Peru, the Ministry of Production (PRODUCE) has made a significant move toward enhancing sustainable aquaculture by approving a new resolution that expands the management plan for tilapia farming in controlled environments.
Tilapia prices in China remained relatively stable during the first nine months of 2024. From July to September 2024, the average price of whole live tilapia (300–500 g) in Guangdong was CNY 8.84 (USD 1.24) per kg, marking a four percent decrease from the previous quarter but a 35 percent increase compared to the same period in 2023. Elsewhere, Brazilian tilapia prices saw slight declines. In Grandes Lagos, Brazil, the unit price of whole live tilapia in Q3 2024 was BRL 8.03 (USD 1.45) per kg, down 13 percent from the previous quarter. In the Brazilian market, the decline in tilapia prices was primarily driven by a combination of high supply levels and weak demand for the fish
Outlook
The global tilapia market remains stable and characterized by strong demand (particularly from Africa), although facing ongoing price pressures due to higher costs and tight supplies. The Chinese tilapia industry is predicted to maintain its resilience in the long term, while the domestic market is expected to see a boost with the approach of the Chinese New Year period in 2025. In the United States, the tilapia industry is currently facing significant challenges that have cast considerable uncertainty on its outlook for 2025. Meanwhile, more producers in Asia and Latin America are adopting sustainable practices to enhance their competitiveness in the global market.
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