Rising Brazilian tilapia exports promise to reshape the U.S. market

Published 2024년 9월 30일

Tridge summary

Brazil's tilapia exports to the US have surged by 150% year-to-date, making it likely for the country to overtake Colombia as the largest supplier of fresh tilapia fillets to the US market. This increase is balanced by a significant decrease in imports from Colombia, likely due to production and logistical issues. China, a major supplier of frozen tilapia fillets to the US, has seen a 14.6% year-over-year drop due to extreme weather, leading to production halts and order backlogs. As a result, the frozen tilapia market is experiencing price pressure and supply shortages, especially for larger fillets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Undercurrent News, which analyzed the latest trade data, found that shipments of fresh tilapia fillets from Brazil have increased by 150% year-to-date, with weekly exports increasing from about 45 tonnes in January to nearly 118 tonnes by July. The sharp increase puts the country on track to overtake Colombia as the largest supplier of fresh tilapia to the US market. According to Undercurrent News’ July 2024 trade data, US imports of fresh Brazilian tilapia fillets totaled 516 tonnes worth $4.77 million, up 117% in volume and 139% in value year-over-year. This historic shift could be further confirmed when August trade data is released in just a few weeks. “Whether there is a downward trend in Colombia and an upward trend in Brazil in August, we won’t know until that data is released in early October. “Brazil could become the largest exporter of fresh tilapia fillets to the U.S. market for the first time in history,” said Francisco Murillo, a former Regal Springs executive and ...

Source: Fishretail