2023 has been a mixed year for tilapia production but a generally bright year for the markets. The best estimates are that global production and consumption was close to 7 million metric tons. China’s production has increased slightly with more fish density per pond or hectare and a few new farms. But we also have reports that a significant number of farmers switched to higher value crops (largemouth bass, catfish, dace, and shrimp). Exports were not much changed, but domestic consumption continued to increase in spots and more value-added products were reaching into new markets.
Indonesian production has edged up with domestic demand remaining strong and the high-quality exports of value-added products continuing. Egypt maintains it’s close position behind Indonesia as the third biggest producer of tilapia. Domestic demand for tilapia in Egypt continues strong, but the low prices that people can afford reduces the sales prices that the farmers can get. Some exports to the Gulf States, mostly purchased by employers to feed migrant workforce from Asian countries, have buoyed the Egyptian farmers. Saudi Arabia has announced plans to build new tilapia farms, but these still seem to be in planning stages.
Tilapia production in India and Brazil were more positive. In both countries production increased and domestic markets remained strong with increased consumption. Neither country has become a major exporter yet, but the potential is certainly there. Ecuador production and exports of tilapia products have lagged somewhat as some ponds that shifted from shrimp to tilapia have shifted back to shrimp. There are still some polyculture operations, but the expected expansion of polyculture has not occurred. This might change if any novel disease issue in shrimp should arise.
In the other major producing countries of Bangladesh, Vietnam, Thailand and the Philippines, production and markets have been well balanced with growth matched with increasing domestic production. Hopes for growth and potential for exports from Myanmar have been dashed as the domestic economy and seafood exports have cratered under the mismanagement of the military junta.
US production of tilapia was essentially unchanged in 2023 and still just a fraction of that compared to other countries. Imports and consumption seemed to have increased slightly. Domestic production continues to go primarily to various Asian groceries and restaurants which pay the best prices to the US farmers.
The continuing high prices for wild-caught fish have also provided opportunities for tilapia to be used as substitute in various recipes. Aquafeed prices moderated somewhat from the rapid run-up in the last couple of years. As tilapia effectively utilize more plant-based proteins, the sharp increase in fishmeal and fish oil prices has not been a factor. However, the use of alternative protein sources is still of interest to the farmers who are counting on some of these novel ingredients to provide some deflationary relief on aquafeeds.