China's second quarter tilapia exports will recover, production and prices are all up!

China's tilapia industry is expected to improve this year as consumers' awareness of tilapia in the Chinese market continues to rise, according to the China Aquatic Products Distribution and Processing Association (CAPPMA).At the same time, tilapia farming and processing industry needs to strengthen self-discipline to adapt to the trend of domestic and foreign consumption upgrading.

In 2023, China exported 110,211 tonnes of frozen tilapia (HS 030323), up 47.4% from 74,784 tonnes in 2022.But the average unit price fell from $2,195 per ton in 2022 to $1,834 per ton in 2023.China also exported 25,634 tonnes of frozen tilapia fillets (HS 030461) during the period, down from 27,153 tonnes in 2022.The average price of the product also decreased from $3,815 / ton in 2022 to $3,026 / ton in 2023.

Since the Spring Festival holiday, tilapia raw material prices have remained at a high level. In Guangdong and Hainan, the price of 500g above is generally more than 11 yuan ($1.53)/kg, and some areas reach 12 yuan/kg.

Factories in southern China are still struggling to secure raw materials due to insufficient stocks in the fourth quarter of 2023, and tilapia prices are expected to remain high into the second quarter, a spokesman for China's largest aquatic feed producer said.

Continued high tilapia prices have also encouraged more farmers to stock their fish in January and February. Tilapia stocks are expected to be higher in the first half of the year than in the same period last year, and farmers' market confidence has increased. As factories are short of raw materials, high prices will continue until June. Hainan's large tilapia processors are not yet operating at full capacity. They have export orders but can't find enough raw materials because all the production capacity is on farmer’s side.

The best year for tilapia in China was 2014, it's hard to say if we will recover to 2014 levels this year, but we hope so.