The Rise of Ocean Freight Costs And How It’s Impacting Seafood  

We all remember how the COVID-19 pandemic disrupted maritime and air freight services. And while those days are behind us, disruptions are once again causing ocean shipping prices to rise to record highs. Expana’s Seafood Market Reporters share how the ocean freight situation is impacting different species:

Tilapia

Expana Senior Seafood Market Reporter Lorin Castiglione says that the tilapia frozen fillet market from China is facing significant turbulence due to ongoing supply challenges, rising freight rates, container shortages, and supply chain disruptions. Freight...

ANALYSIS: Increasing Freight Drives Pressure on Value Finfish

The frozen fillet market for tilapia, pangasius, and catfish is experiencing shifts due to a variety of factors impacting both supply and demand. Recent developments in ocean freight rates, weather conditions, and supply chain disruptions have all contributed to the current market dynamics.

Tilapia

Tilapia pricing has steadily increased for the past year due to several key factors. U.S. importers face lower inventory levels, as anticipated supply improvements by late May or early June were delayed by unusual weather patterns in China's producing areas of Guangdong and...

ANALYSIS: Tilapia Market Troubles – Supply Shortages and Supply Chain Disruptions

The tilapia frozen fillet market from China is experiencing significant turbulence, driven by several key factors affecting both supply and demand. U.S. importers are currently facing low inventory levels as the industry expected that supply would improve by late May or early June. However, weather-related setbacks in April, as well as reports of premature harvesting have caused further delays.

The two major tilapia farming regions in China, Guangdong and Hainan, have faced unusual weather patterns, which have contributed to higher mortality rates and...

ANALYSIS: Fresh Tilapia Facing Supply Challenges

The fresh tilapia market in the United States is currently facing significant challenges due to supply disruptions. Colombia, the leading supplier of fresh tilapia to the U.S. since 2022, has reportedly experienced mortality issues resulting in a sharp decline in production. With Colombia's typical production output compromised, the U.S. market is turning to other regions, notably Costa Rica, Honduras, and Brazil, to fill the void. Additionally, Brazil's effort to get new farms BAP certified rapidly for U.S. exports underscores the urgency and the potential for...

Captain D's Promotes Nan Ward to COO Amid Several Franchise Development Agreements

Fast casual seafood restaurant Captain D's announced Wednesday that Nan Ward has been promoted to chief operating officer. Ward has been with the Nashville-based company since 2012, when she first joined as a human resources manager.

"Over the past 12 years with Captain D's, Nan has made a defining impact on the company across many disciplines. She has a vast, hands-on background in operations and pairs it with savvy business acumen. It's a powerful combination that ensures Nan will excel as...

ANALYSIS: Tilapia Market Rallies Ahead of the New Year

The tilapia market continues to experience upwards pricing pressure the week before the Christmas holiday, inching towards the year’s end and ahead of Chinese New Year in the first quarter of 2024.

A few months ago, imported frozen tilapia fillets from China saw price discounts as inflation affected consumer spending in the U.S., resulting in lower demand and higher inventory levels. During this time, the industry saw reduced procurement activity from China, putting more inventory into the global market. However, the market situation has recently changed...

ANALYSIS: Tilapia Imports, Prices Retreat 

June 2023 imports for frozen tilapia fillets were recorded at 16.9 million pounds, falling below both the previous 3-year (21.6 million lbs.) and 10-year (23.9 million lbs.) averages for the month of June; down 22.0 percent and 29.4 percent respectively.

June imports adjusted 7.6 percent lower than the previous month while retreating 26.3 percent lower than the June 2022 volume of 22.9 million pounds. On a year-to-date basis imports are tracking 10.0 percent below 2022 totals of the same January through June time frame...

The Latest Products From Trader Joe’s Are Summer Staples

Trader Joe’s loves updating its customers about new arrivals. And the latest seafood products to hit the grocer’s shelves are all summer staples. 

Seafood lovers will want to grab multiple boxes of Trader Joe’s Seafood Boil, because this frozen item is only available for a limited time. The louisiana-style boil contains shrimp, tilapia, clams, andouille sausage, corn on the cob and miniature potatoes pre-seasoned in a spicy garlic butter sauce. Either boil it in the bag or put the contents of the bag in a sauce pan for a...

ANALYSIS: Fresh Tilapia Prices Rise as Imports Fall

There was a notable decrease in the total import volume of fresh tilapia fillets in February 2024 compared to January 2024, with volumes dropping from just under 4.1 million pounds to 3.2 million pounds, a 21.9% decline. Year-over-year, the decline is even more pronounced at 28.1%, with February 2023 volumes at 4.4 million pounds. This indicates a significant contraction in import volumes over both a monthly and yearly basis.

The year-to-date numbers running January through February show a similar trend, with a decline of...

Captain D's Names Hair Parra to Senior VP of Intl. Operations and Development Amid Global Expansion

Just one week after Captain D’s promoted Nan Ward to COO, the fast casual seafood restaurant has named Hair Parra to the newly created position of senior vice president of international operations and development. 

Parra spent more than 35 years leading international operations for well-known names like Papa Johns, Benihana and Domino's. Parra also oversaw international development for FAT Brands since 2021. Prior to that, he was chief operating officer of Wing Zone after spending over...

ANALYSIS: Frozen Tilapia Fillets Report Lowest Import Year Since 2006

Tilapia frozen fillet imports into the United States ended the year on a low. Total volume for 2023 was recorded at 203.1 million pounds, a 13.2 percent fall from last year, marking the third consecutive year of retreats.

China, the leading supplier of tilapia frozen fillets into the U.S., recorded 181.1 million pounds in 2023, compared to 204 million pounds in 2022, noting an 11.2 percent fall from the previous year.

Currently, production efforts within China have stopped as processing...

With a Rosy Outlook, Baiyang Plans to Process More Tilapia 

Baiyang, one of China’s leading companies in tilapia processing, said its annual production reaches about 0.12 million tons at present, and the number is expected to exceed 0.2 million tons around 2025, during a Q&A session on 0033.com. Most processed ones are exported to countries and regions like America, Europe, the Middle East, and South America.

Recently it has adjusted export prices according to higher farm gate prices, but the company said it has received more inquiries from...

ANALYSIS: Fresh and Frozen Tilapia Pricing Gap Widens

A notable shift is taking place within the tilapia market, where the pricing gap between frozen tilapia fillets from China and fresh tilapia fillets from Central and South America is expanding.

The market for frozen tilapia fillets imported from China are witnessing a downturn as discounted wholesale prices emerge within the U.S. Key market participants report that contributing factors include fallen demand due to consumer inflation fatigue, high cold storage rates, as well as overall ample supply in the global market due...