China's tilapia supply is tight, the high price will continue!

Tilapia supplies in China remain tight, with high prices until May, as the industry slowly rebuilds after low prices last year caused farmers to abandon operations.

The pond price for tilapia over 500 grams in Guangdong province was about 11.40 yuan ($1.61 / kg) in early May, while in Hainan it was 11.20 yuan per kg.That is much higher than the 8.50 yuan per kilogram in the same period last year.At present, the Chinese market is facing a shortage of tilapia raw materials, and fish pond stocks in southern China continue to decline.Tilapia are in a seller's market now.

According to industry insiders, tilapia supplies are expected to recover in the second quarter of this year.But tilapia suppliers in Hainan, China, said supplies remain low and prices remain high.

Industry insiders expect more tilapia to hit the Chinese market in June, as the fry released at the end of last year reach harvest specifications. However, he said farmers are still cautious about investing in new tilapia stocks. The market is still out of stock and prices remain firm. Farmers are hoping for a better year than 2023.