Tilapia supplies are expected to increase

According to industry sources, as of the 25th week (June 16-22), the price of tilapia in Guangdong province was 10.6 yuan (about $1.46) per kg for sizes above 500 grams, and 8.6 yuan per kg for sizes between 300 and 500 grams.

The head of a tilapia processing plant in Maoming city said overseas demand was lower than expected this quarter, while freight rates from China to major export markets such as the United States surged by about $8,000 per container in the past two months. This dynamic has led some international buyers to shift orders to lower-priced Brazilian exporters. "I understand that some orders are being moved to Brazil because Chinese prices are too high for them," said the Maoming processing plant manager.

In fact, U.S. imports of frozen tilapia fillets from China in April reached a 15-month low of just over 3,000 tons, while the average unit price rose to $3.92 per kilogram year over year.

The upcoming peak summer harvest in July and August is expected to end the low supply period. Farmers in Guangdong province have released 30% more tilapia fry this year than last year in hopes of meeting strong demand, industry sources said. The head of the processing plant in Maoming said, "We will see a large harvest of tilapia in July and August. Prices may fluctuate during this period.

Tilapia prices in Guangdong and Hainan reached the highest levels of the year in June at Rmb11.90 per kg (large size) and Rmb9.60 per kg (500g or less) as farmers released fry later than usual.