The supply of Chinese tilapia has tightened, and farmgate prices for the product have risen by over 30 percent compared to the same period last year, leading many processors to either suffer through delays in fulfilling contracts or break contracts rather than face sharp losses adhering to them.
Tilapia farmgate prices in the southern province of Hainan peaked at CNY 5.30 (USD 0.74, EUR 0.68) per 500 grams in mid-September, compared to CNY 3.90 (USD 0.54, EUR 0.50) per 500 grams in August 2022.
“Rather than lose money [due to higher farmgate prices for tilapia], lots of Chinese factories are just walking away from contracts,” Didier Boon, the CEO of Beijing-based seafood trading firm East China Seas, told SeafoodSource.
Compounding the issue, supplies have been ...
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