Chinese tilapia prices bottom out and stabilize, accelerating the shift to the Asia-Pacific market

On April 14, the China Aquatic Products Distribution and Processing Association (CAPPMA) issued an initiative calling for the maintenance of a stable tilapia supply chain. In the following two weeks, the price of raw materials in major production areas such as Guangdong, Guangxi, and Hainan began to stabilize: the ex-factory price of 500-800g tilapia was RMB 8 per kilogram (about US$1.10), and the price of 300-500g was RMB 6 per kilogram. Although the price has stopped falling, most farmers are still near the break-even point, with extremely limited profit margins. Against the backdrop of the suspension of purchases in the US market, Chinese processing companies are re-arranging their export strategies. For example, Zhanjiang Guolian Aquatic Products has shifted some of its orders originally planned for export to the US to the domestic market. And listed companies that mainly export tilapia Baiyang Investment Group also announced on April 15 that it would suspend all new orders ...