TILAPIA AQUACULTURE WHOLESALE MARKET REPORT June 2013 Tilapia prices in Mexico Whole tilapia in Mexico City Small fish 24 pesos/kg Large fish 30 pesos/kg Fresh fillet prices in Mexico City 141-198 g US$ 4.60 - 5.95 /kg 198-255 g US$ 5.00 - 6.15 /kg 255-311 g US$ 5.50 - 6.60 /kg By Mark Godfrey, SeafoodSource contributing editor reporting from Beijing, China 02 May, 2013 - Tilapia prices have edged upward year-on-year in key cultivation zones in China, the apparent result of lower cultivation by fish farmers who were burnt by lower prices in recent years. Large numbers of tilapia cultivators exited the sector in the wake of weaker demand and prices in export markets in 2009 and 2010. According to tilapia farmers who spoke to Seafoodsource, prices paid to tilapia farmers in Guangdong province (a key cultivation zone) broke the RMB 5 (USD 0.81, EUR 0.62) per 500g mark on 10 March, hitting RMB 5.2 (USD 0.84, EUR 0.64) per 500g while the so-called “pond price” of larger (1.75kg) tilapia rose to RMB 8.3 (USD 1.35, EUR 1.02) for 500g. Since then, prices have ebbed slightly but remain strong. Price data from the two key production regions, Hainan and the Pearl River Delta (Guangdong), published by China’s national seafood sales network Shuichan Pindao (Aquatic Products Channel) shows tilapia selling for an average RMB 4.7 (USD 0.76, EUR 0.58) per 500g in April. That’s a significant climb on RMB 4 (USD 0.65, EUR 0.49) recorded at the same period in 2012. Erratic prices have already pushed cultivators out of the sector. The biggest tilapia culture base in Guangdong province, Pingsha Wan Mu, suggested fries will be down 50 percent on last year. Pingsha has 16,000 mu (15mu =1 hectare) of pond space. “From 2010, the price of tilapia kept in low position, the tilapia farmers lost a lot and most of them decided to culture some other fishes which have higher economic values,” according to a report in the Nanfang Metropolis Daily, the most widely read newspaper in Guangdong. According to the Nanfang Metropolis Daily “since there are less tilapia farmers, the tilapia fry suppliers are getting less orders this year. This is a new situation in this industry.” The newspaper also states several other key factors effecting cultivation, including industrial pollution. “As well as the low economic values and easy spread of infectious diseases, another reason causing less farmers to culture tilapia is that many factories were moved next to the culturing bases in recent year, and that makes the water get polluted easily, causing the death of tilapia fries.” China’s tilapia prices are volatile in part due to the highly fragmented nature of the sector. That could be changing however, with well-financed conglomerates like feed firm Tongwei and processor Baiyang in recent years entering the cultivation space. Market leader Baiyang in 2012 exported 362,000 tons of frozen tilapia, according to company chairman Sun Zhongyi. Baiyang however only has a 9 percent market share, proof of the very fragmented nature of the sector. Despite price volatility, there’s still plenty of appetite among tilapia producers to lift output, particularly in China’s poorer regions where government organizes and subsidizes production as a way of lifting rural incomes. The Guangxi Tilapia Innovation Team — a state-funded body under the provincial agricultural authorities — recently produced a new species of tilapia named “Baigui No.1,” comparing to the normal tilapia, this new one has stronger growing ability, which will help farmers to increase their incomes. The Guangxi provincial agricultural department reported on its website that after trailing for several months, “a batch of ‘Baigui No.1’ tilapia grew from 0.2 grams to 200 grams … due to the growing speed, this batch of tilapia will fetch a good market price in no more than two months.” Also in Guangxi province, tilapia farmers in Bobai county have started culturing tilapia in hot spring ponds in winter. According to Li Yong, director of the Bobai Cooperative Society (of 1,630 farmers) “we have solved the problem about how to breed tilapia in winter, by using the hot springs, we can breed two groups of tilapia in a year, which improves the efficiency of culturing.” The cooperative currently cultivates 30,000 tons for exports to mostly America and Europe worth RMB 300 million (USD 48.7 million, EUR 36.9 million) a year. Market Form Size Price Volume Point of (lb) ($/lb) (lb) Origin Mexico City Jan 17, 2005 Tilapia fillets 1.50 - 2.00/lb Michoacan Large tilapia whole fresh 0.98/lb Nayarit En cuanto a la Tilapia Chica (hasta 150 g./organismo) registró una entrada de 400 kg a precio promedio de 13 pesos/kg; la Tilapia Mediana (150 a 450 g/organismo) un volumen de 2.7 toneladas vendidas a 18.5 pesos/kg y traidas principalmente de Nayarit seguido por Sinaloa; la Tilapia Grande (más de 450 g/organismo) un volumen de 4.2 toneladas a precio de 21.3 pesos/kg la cual fue traída casi en su totalidad del estado de Michoacán. En cuanto a la presentación de filete de Tilapia, entraron 7.7 toneladas que se vendieron a 33 pesos/kg. Michoacán tiene gran presencia en la producción de tilapia debido a las capturas que se realizan en la presa Calderón. Guadalajara, MEXICO Dec. 15, 2003 Gutted Frozen w/out skin 0.81/lb Imported Gutted Frozen w/ skin 0.98/lb Domestic Tilapia filetes 2.12/lb Imported Miami, FL October 1, 2003 Chilled fillet 5-7 oz 3.00/lb Ecuador September 26, 2003 TILAPIA Mexico City Fresh, Whole Large 1.20/lb unknown Imported Mexico City Fresh, Whole small 0.40/lb unknown Michoacan Miami, FL May 16, 2001 Chilled fillet 5-7 oz 4.00/lb Ecuador Chilled fillet skin on 3.50/lb Costa Rica Frozen fillet 1-2 oz 1.65/lb Brazil Frozen fillet 2-3 oz 1.75/lb Brazil Frozen fillet 3-4 oz 1.85/lb Brazil Frozen fillet 4-5 oz 2.00/lb Brazil Fillet IQF 3-5 oz 2.60/lb Indonesia Fillet IQF 5-7 oz 2.70/lb Indonesia Fillet IQF 7-9 oz +2.70/lb Indonesia Internet Auction October 25, 2000 Black Tilapia Frozen Skinless Boneless Fillets 3-5 oz IQF $2.55/lb 500 lb Unknown Black Tilapia Frozen Skinless Boneless Fillets 5/7 IQF $2.80/lb 1,000 lb Unknown Black Tilapia Frozen Skinless Boneless Fillets 7/9 IQF $3.40/lb 1,000 lb Unknown Other Tilapia Frozen Dressed IQF (Head On And Gutted) 550gm. + $0.67/lb 40,000 lb Unknown December 1998 TILAPIA Mexico City Fresh, Whole Large 2.80 unknown Sinaloa Mexico City Fresh, Whole small 1.20 unknown Michoacan Week Ending July, 1998 TILAPIA PA-NY-Mass. Fillets 2-4 oz 3.23 670 IMPORT Fillets 5-7 oz 3.82 420 IMPORT MD-DC Fillets 3-5 oz 3.55 700 IMPORT Fillets 4-6 oz 3.65 1,320 IM Fillets 5-7 oz 3.60 2,460 IM NE Live 1-2 1.70 35,500 MA May 1998 TILAPIA Mexico City Fresh, Whole Large 2.00 unknown Mexico City Fresh, Whole small 1.14 unknown Week Ending April 10, 1998 Market Form Size Price Volume Point of (lb) ($/lb) (lb) Origin TILAPIA NY-Massachusetts Fillets 4-7 oz 3.55 120 IM Fillets 7-9 oz 3.60 500 IM Whole 1.00-1.50 1.75 500 IM Pennsylvania-NJ Fillets 4-6 oz 4.25 200 IM Northeast Live 2.00 1.95 36,000 MA Week Ending March 31, 1998 Market Form Size Price Volume Point of (lb) ($/lb) (lb) Origin TILAPIA Maryland Fillets 3-6 oz 3.64 1,100 IM Maryland Fillets 5-7 oz 3.61 1,280 IM Maryland Fillets 7-12 oz 3.91 385 IM Washington, D.C. Fillets 5-7 oz 3.75 360 IM February 1998 TILAPIA Mexico City Fresh, Whole Large 1.35 unknown Mexico City Fresh, Whole small 0.55 unknown Week Ending December 12, 1997 Market Form Size Price Volume Point of (lb) ($/lb) (lb) Origin TILAPIA NY-Massachusetts Fillets 3-6 oz 3.65 1,120 IM Whole 2.00 1.70 1,000 IM Pennsylvania-NJ Fillets 4-7 oz 3.60 400 IM Northeast Live 1.00-2.00 2.05 30,000 S/MW Week Ending October 24, 1997 NY-Massachusetts Fillets 3-6 oz 3.65 1,120 IM Whole 2.00 1.70 1,000 IM Pennsylvania-NJ Fillets 4-7 oz 3.60 440 IM Fillets 7-9 oz 3.50 280 IM Northeast Live 1.00-2.00 1.90 30,000 S/MW Week Ending July 25, 1997 TILAPIA Washington, D.C. Fillets 5-7 oz 3.65 480 IM Maryland Fillets 3-5 oz 3.89 505 IM Maryland Fillets 5-7 oz 3.76 1,240 IM Maryland Fillets 7-9 oz 3.80 100 IM Week Ending July 11, 1997 TILAPIA NY-Massachusetts Fillets 3-5 oz 3.65 1,000 IM Whole 2.00 1.70 1,000 IM Pennsylvania-NJ Fillets 4-7 oz 3.60 500 IM Northeast Live 1.00-2.00 2.30 15,800 S/MA Week Ending June 18, 1997 TILAPIA NY-Massachusetts Fillets 3-6 oz 3.65 1,120 IM Whole 2.00 1.70 1,000 IM Pennsylvania-NJ Fillets 4-7 oz 3.63 520 IM Whole 1.00-1.50 0.95 700 S Northeast Live 1.00-2.00 2.15 25,000 MW Week Ending June 13, 1997 Washington, D.C. Fillets 5-7 oz 3.65 420 IM Maryland Fillets 3-5 oz 3.51 455 IM Maryland Fillets 5-9 oz 3.73 1,390 IM Maryland Fillets 8-16 oz 3.45 1,000 IM Week Ending May 30, 1997 TILAPIA Washington, D.C. Fillets 5-7 oz 3.63 480 IM Maryland Fillets 3-5 oz 3.56 575 IM Maryland Fillets 5-9 oz 3.75 1,270 IM Maryland Fillets 8-16 oz 3.45 1,000 IM Week Ending April 25, 1997 TILAPIA Washington, D.C. Fillets 5-7 oz 3.58 480 IM Maryland Fillets 3-5 oz 3.64 260 IM Maryland Fillets 5-7 oz 3.62 1,300 IM Maryland Fillets 7-16 oz 3.48 1,100 IM November 1996 Washington, D.C. 1 Fillets 4-6 oz 3.45 300 IM Washington, D.C. 1 Fillets 7-9 oz 3.45 300 IM Maryland 1 Fillets 4-7 oz 3.54 1,360 IM Maryland 1 Fillets 7-9 oz 3.95 50 IM Maryland 1 Fillets 8-16 oz 3.50 3,000 IM Maryland 1 Whole 1.25-1.50 1.45 500 IM Mid-West 2 Fillets 3-5 oz 3.65 320 IM Northeast 3 Live 1.00-2.00 2.00 25,000 S Penn-New Jersey 3 Fillets 3-6 oz 3.48 700 IM New York-Mass 3 Fillets 3-6 oz 3.65 2,060 IM New York-Mass 3 Whole 2.00 1.70 1,000 IM Source: Various. Legend: IM=Import, MA=Mid-Atlantic, MW=Mid-Western, W=Western, NE=Northeast, S=Southern, Penn=Pennsylvania, Mass=Massachusetts.