Brazil Fish Farming Exports Show Steady Growth in Q1

Brazilian fish farming exports witnessed significant increases in both value and weight during the first three months of this year compared to the same period in 2023, marking notable growth trends. The sector saw a surge of 48% in value, totaling $8.73 million, alongside a substantial 20% increase in weight. This surge represents the highest recorded value for the period since 2020 when Embrapa commenced systematic tracking of this market. Breaking down the figures by month, January saw $2.58 million, followed by $2.61 million in February, and $3.54 million in March.

Although still constituting a relatively small percentage of the total national production, Brazilian fish farming exports have demonstrated consistent growth in recent years. According to Manoel Pedroza, a researcher at Embrapa Fish Farming Division (Palmas-TO), factors such as increased production and the professionalization of the fish farming chain have contributed to this upward trajectory. Despite the domestic market absorbing the majority of production, companies in the sector have actively pursued diversification of sales channels through exports.

Among the various product categories, fresh or chilled fillets emerged as the most exported category in the first quarter of 2024, accounting for 65% of the total value moved, reaching $5.65 million. Following closely behind is the category of frozen whole fish, contributing 23% of the value moved during the period. These insights and more are available in the Fish Farming Foreign Trade Newsletter – Quarter 01/2024, a collaborative effort between Embrapa Fisheries and Aquaculture and the Brazilian Aquaculture Association (Peixe BR).

The publication for the first quarter of 2024 marks the 17th consecutive edition, showcasing Embrapa’s dedicated monitoring of Brazilian fish farming exports since 2020. This long-term observation allows for the construction of a historical series and sheds light on the evolving characteristics of this sector. Manoel notes, “The consolidation of tilapia as the flagship species stands out as the primary characteristic observed during this period. Additionally, the North American market has emerged as the primary destination for sales, with fresh tilapia fillet shipments experiencing notable growth.”

During the initial months of this year, tilapia dominated Brazilian fish exports, accounting for 95% of the total volume and totaling $8.31 million. Following this, catfish and curimatãs each held a 2% share. Once again, the United States emerged as the primary destination for Brazilian fish farming exports in the first quarter of 2024, commanding an 89% share, amounting to $7.77 million. This was followed by China, Japan, Colombia, and Canada, each holding a 2% share in the total exports.

Source: Notícias Agrícolas

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