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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...

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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...

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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...

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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...

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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...

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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...

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Seafood Consumption Figures for 2021 Released, Increasing 1.5 Pounds From 2020

NOAA’s annual Fisheries of the United States report has been released, revealing seafood consumption figures for 2021.

According to the report, the U.S. annually ranks as one of the top seafood-consuming nations globally. And 2021 did not disappoint. Based on NOAA’s figures per capita consumption was at 20.5 pounds, which is a 1.5 pound increase from 2020.

Fresh and frozen seafood made up 50% of per capita consumption. Fillets and steaks had the next highest percentage of 19% per capita consumption, followed by shrimp (all) at 18% and...

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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...

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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...

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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...

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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...

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ANALYSIS: Catfish, Pangasius, and Tilapia Markets Soften into Summer 

Imported aquaculture species including catfish and tilapia from China, as well as pangasius/swai from Vietnam have experienced some price softening due to an overabundance of supply relative to current demand trends. While catfish and pangasius markets have seen a gradual retreat over the past few weeks across all sizes, tilapia remained mostly steady until recently where smaller sized fillets were the first to report discounts...

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