Tilapia prices in China may fall under pressure from processors

The fall in prices comes as tilapia processors in Maoming seek to reduce high raw material costs. According to industry sources, in early June, tilapia prices for processors reached 12 yuan/kg for fish weighing 500-800 g and 10 yuan/kg for tilapia 300-500 g. Maoming County is home to 16 tilapia processors and accounts for approximately one-seventh of China's total tilapia production, amounting to 250,000 tons per year. Liu Zhili, CEO of Hainan Gengift Aqua-Technology, China's second-largest supplier of tilapia fry, said tilapia prices have been falling by about 0.1 yuan per kg per day in recent days as processors force farmers to catch the fish earlier. He expects prices to inevitably fall further as harvest volumes increase. “As soon as prices fall, everyone will rush to sell fish. This is the law of the market,” Liu said. An anonymous industry insider said lowering raw material costs is important for processors, who are also facing rising transportation costs. End consumers have ...