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Photo: Stockfile/FIS
Brazilian Fish Farming Achieves Record Export Growth in 2024
BRAZIL
Friday, January 24, 2025, 06:50 (GMT + 9)
Tilapia Maintains Its Position as the Top Exported Species
Brazil's fish farming sector recorded unprecedented growth in exports during 2024, with export values increasing by 138% compared to 2023, reaching an impressive US$59 million. In terms of volume, exports rose by 102%, climbing from 6,815 tons in 2023 to 13,792 tons in 2024. This marks the most significant increase in export volume since 2021.
Photo: courtesy Jonathan Campos/AEN
The primary driver behind this growth was the surge in shipments of fresh tilapia fillets, which generated US$36 million in revenue. Frozen whole fish ranked as the second most exported category, contributing US$17 million. This data and more are highlighted in the latest edition of the Fish Farming Foreign Trade Newsletter, a joint publication by Embrapa Fisheries and Aquaculture and the Brazilian Fish Farming Association (PeixeBR). The newsletter is freely accessible online.
Key Factors Behind the Growth
 According to Embrapa Fisheries and Aquaculture researcher Manoel Pedroza, the 138% growth in export value is largely attributed to a drop in domestic tilapia prices in 2024. “There was a significant reduction in the price paid to tilapia producers. By the end of 2024, producers were receiving an average of R$7.85 per kilo, compared to R$9.73 per kilo at the close of 2023, based on data from Cepea (Center for Advanced Studies in Applied Economics). This prompted some companies to target international markets instead,” Pedroza explained.
Another contributing factor was the rise in the dollar exchange rate against the Brazilian real, which made exports more competitive. Additionally, increased tilapia production in Brazil outpaced domestic market demand, encouraging companies to seek opportunities abroad.
Tilapia Dominates Export Numbers
Tilapia remains the cornerstone of Brazil’s fish farming exports, representing 94% of total exports and generating US$55.6 million in revenue—a 138% increase compared to 2023. Export volumes for tilapia also surged by 92%, reaching 12,463 tons.
 Other species also experienced significant growth, with curimatá exports increasing by an impressive 437% to reach US$1.2 million, making it the second most-exported species.
Top Export Markets
The United States was the largest importer of Brazilian fish in 2024, accounting for 89% of total exports and purchasing US$52.3 million worth of fish, predominantly tilapia. Meanwhile, Peru emerged as the leading buyer of native Brazilian species, importing US$1.1 million worth of curimatá, along with US$746,000 of pacu and US$571,000 of tambaqui.
Trade Balance and Imports
Despite record export growth, Brazil's fish farming trade balance closed 2024 with a deficit of US$992 million. This was driven by a sharp rise in imports, which reached US$1 billion. Salmon remained the top imported species, followed by pangasius.
“There was a 9% increase in the value of salmon imports and a 5% increase in volume, totaling US$909 million. Salmon alone accounts for 87% of Brazil's total fish farming imports,” Pedroza noted.
While Brazil’s fish farming industry achieved significant growth in exports, challenges remain in balancing imports and maintaining a positive trade balance. Nevertheless, with rising production capacity and strong demand for tilapia and native fish in global markets, the sector is poised for further expansion.
Source: Embrapa
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