Brazil fish exports increase, but trade balance deficit also rises

Brazilian YTD fish exports as of September 30 generated revenue of US$ 12.8 million, a growth of 10% compared to the full year of 2020 when export revenue totaled US$ 11.7 million. In the third quarter of this year, revenue from exports was US$ 5.7 million (US$ 2.3 million in September), an increase of 71% compared to the same period in 2020 and 43% compared to the previous quarter.

Embrapa and PeixeBR (the Brazilian association of pisciculture) compiled the survey data. “I believe that exports in 2021 may grow at least 15% compared to last year”, projects Manoel Pedroza, a researcher of aquaculture economy at Embrapa Pesca e Aquicultura.

Tilapia is the species that drives Brazilian fish exports. From July to September this year, shipments generated US$ 4.9 million. In the accumulated result for the year, revenue from tilapia reached US$ 10.9 million, or 85% of total Brazilian sales of fish to the foreign market. Mato Grosso do Sul was the state that exported the most tilapia, with US$ 1.9 million. Tambaqui and curimatá are other important fish in the commercial balance.

The United States is the main buyer of Brazilian fish: American imports totaled US$ 7 million in the first nine months of this year, corresponding to 54% of the total. “I believe that the number of destinations tends to diversify, which can reduce dependence on sales to the US. We have seen an increase in exports to South American countries such as Peru, Colombia, and Chile, which together already import more than 20% of fish farming shipments”, says Pedroza, in a statement.

Source: Valor Econômico

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