Brazilian Aquaculture Records Historic Growth in Exports in 2024

According to information released by Embrapa Fisheries and Aquaculture, Brazilian aquaculture exports saw a record growth in 2024, with a 138% increase in value, reaching 59 million dollars. The growth was 102% in volume, rising from 6,815 tons to 13,792 tons, the most significant increase since 2021. The main driver behind this growth was the shipment of fresh fillets, which reached 36 million dollars, followed by frozen whole fish, with 17 million dollars.

Tilapia remains Brazil’s main export species, accounting for 94% of the sector’s national exports, with a total of 55.6 million dollars, which represents an impressive 138% growth compared to the previous year. This increase solidified tilapia as the star of Brazilian aquaculture in international trade.

According to Manoel Pedroza, a researcher at Embrapa Fisheries and Aquaculture, the reason for the 138% increase in the export value is the reduction in the price of tilapia in the domestic market. “There was a significant drop in the price of tilapia paid to producers throughout 2024. At the end of 2023, the price of tilapia paid to producers was an average of R$9.73 per kilogram. Still, by the end of 2024, this value dropped to R$7.85, according to data from the Center for Advanced Studies in Applied Economics (Cepea),” he explains.

The increase in the exchange rate between the dollar and the real is another factor that justifies the rise in exports, in addition to the increased production of tilapia. “There was an increase in the production of the species, and the domestic market could not absorb the greater supply. Therefore, companies sought other countries to sell the fish,” Pedroza explains.

The United States stood out as the largest destination for Brazilian fish, accounting for 89% of the sector’s exports, with a total value of 52.3 million dollars. In this context, tilapia was undoubtedly the main species exported to the U.S., maintaining its leadership position in the market.

Despite the record growth in exports in 2024, the trade balance for aquaculture products closed with a deficit of US$992 million due to an increase in imports, which reached US$1 billion. Salmon is the main species imported into Brazil’s aquaculture, followed by pangasius. There was a 9% increase in the value of salmon imports and a 5% increase in volume, reaching a total of 909 million dollars. This corresponds to 87% of the total volume imported by the country,” says Pedroza.

Source: Oeste Notícias

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