China accounts for the majority global tilapia market with just over 20 percent of global tilapia production. Tilapia farming are mainly in Hainan and Guangdong province. Chinese tilapia’s price has been a big change in 2022.
More Competitors Joined in Tilapia Game
Besides China, countries like Indonesia, Egypt, Thailand, Bangladesh, Colombia and Mexico are also focus on Tilapia in recent years because of high ROI in tilapia industry. Bases on the unexpected quarantine policy in China, other countries have become a competitive nowadays.
Indonesia, the second biggest producer of tilapia after China. The US is a major buyer of Indonesian value-added tilapia products that had seen increases in sales in competition with tariff-bound Chinese frozen tilapia products in recent years. Followed by Egypt, this country exports 80% of its tilapia, which is 940,000 of the 1.2 million produced. (Data of 2021). Brazil ranks 4th position.
Over the past six years, Brazil national farmed fish production has increased by 31%, from 578 000 tons in 2014 to 758 000 tons in 2019. Tilapia has always been the main fish product in Brazil. Brazilian tilapia main market are domestic customers and the North American. Colombia and Mexico, mainly do fresh Tilapia, are in hopes of capitalizing on the premium target market in the United States. With their advantage of geography, they are also potential contenders in Tilapia’s market.
India starts Tilapia on May 2020. India had announced Tilapia plan since May 2020. Their whole round or GS Tilapia are welcomed in whole Africa. Moreover, Fishin’, the largest U.S. importer of tilapia, invested US$130 million to develop tilapia farming and processing project in India 4 months ago It will be the world’s largest freshwater aquaculture. With a capacity of 85,000 tons, it aims to provide vertically integrated supply chain for the North American market, including Walmart.
Ocean Treasure’s Tilapia Trip
It’s been quite dramatic this year, Tilapia’s prices have gone from a historic high to a deep low in just three months. With all question marks, Ocean Treasure visited tilapia processors and farms in Guangdong in early August, to reveal the murkiness of this most popular seafood.
According to the industry insiders, Tilapia had a rough time. Most of marketing had maintained in wait-and-see mode by the force of covid, freight fee and currency change. Domestic experts were expecting a new tariff in the middle of August. The major dives recently on Tilapia really kill farmers’ motivation. Factories are also running the business while losing money. The government and the industry have to increase the price to avoid the furthered damage.
Tilapia’s Future Trends
“Prices will going high, especially on next season.” An expert predicted,” Even right now, after price increase, the average price still too high to cover the invest. Some markets’ storage should about finish soon. It is a good time to take orders now.” Ocean Treasure collects right quality of Tilapia in this unique time, contact us immediately, early decision is highly recommended due to the new wave of epidemic.
For the overseas competitors, all the professionals show a confidence. “China has a very comprehensive industry structure. From farmer to factories, from a fish to various products, to related fish oil, fish skin and feed. This industry closed loop could generate more stability at present.” Some of the first factories owners of tilapia from Zhanjiang explained to Ocean Treasure. “A country needs 15 years to build up a similar business patterns like Chinese Tilapia. “