Frozen Tilapia Fillets Price in the United States - 2023
Contents:
- Frozen Tilapia Fillets Price in the United States (CIF) - 2023
- Frozen Tilapia Fillets Price in the United States (FOB) - 2023
- Frozen Tilapia Fillets Imports in the United States
- Frozen Tilapia Fillets Exports in the United States
Frozen Tilapia Fillets Price in the United States (CIF) - 2023
The average frozen tilapia fillets import price stood at $3,660 per ton in August 2023, surging by 1.8% against the previous month. In general, the import price, however, showed a mild contraction. The pace of growth was the most pronounced in March 2023 when the average import price increased by 19% m-o-m. Over the period under review, average import prices attained the peak figure at $4,252 per ton in August 2022; however, from September 2022 to August 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Indonesia ($8,543 per ton), while the price for China stood at $2,987 per ton.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+0.5%).
Frozen Tilapia Fillets Price in the United States (FOB) - 2023
The average frozen tilapia fillets export price stood at $3,875 per ton in August 2023, increasing by 14% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 an increase of 20% month-to-month. Over the period under review, the average export prices reached the maximum at $4,453 per ton in September 2022; however, from October 2022 to August 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($4,822 per ton), while the average price for exports to South Korea ($2,535 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.
Frozen Tilapia Fillets Imports in the United States
In 2022, overseas purchases of frozen tilapia fillets decreased by -1.8% to 108K tons, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 8.8%. As a result, imports reached the peak of 117K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, frozen tilapia fillets imports skyrocketed to $461M in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Tilapia Fillets in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 314 | 304 | 308 | 358 | 4.5% |
| Indonesia | 53.5 | 46.1 | 48.8 | 56.8 | 2.0% |
| Others | 48.9 | 35.5 | 42.0 | 45.7 | -2.2% |
| Total | 416 | 386 | 399 | 461 | 3.5% |
Top Suppliers of Frozen Tilapia Fillets to the United States in 2022:
- China (94.4K tons)
- Indonesia (7.2K tons)
Frozen Tilapia Fillets Exports in the United States
In 2022, shipments abroad of frozen tilapia fillets was finally on the rise to reach 1.9K tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +6.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, frozen tilapia fillets exports skyrocketed to $7M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +5.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Frozen Tilapia Fillets in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 971 | 532 | 989 | 1,647 | 19.3% |
| Guatemala | 1,356 | 1,127 | 1,387 | 1,520 | 3.9% |
| South Korea | 538 | 674 | 558 | 1,215 | 31.2% |
| Dominican Republic | 259 | 303 | 408 | 557 | 29.1% |
| Japan | 346 | 331 | 413 | 362 | 1.5% |
| Hong Kong SAR | 64.8 | 30.6 | N/A | 345 | 74.6% |
| Nicaragua | 87.1 | 76.0 | 167 | 271 | 46.0% |
| Trinidad and Tobago | 264 | 103 | 188 | 164 | -14.7% |
| China | 426 | 286 | N/A | 139 | -31.2% |
| Colombia | 264 | 5.8 | N/A | 9.1 | -67.5% |
| Panama | 389 | 72.8 | 103 | 8.8 | -71.7% |
| United Arab Emirates | 472 | 936 | 30.0 | N/A | -74.8% |
| Others | 505 | 463 | 438 | 730 | 13.1% |
| Total | 5,942 | 4,941 | 4,681 | 6,968 | 5.5% |
Top Export Markets for Frozen Tilapia Fillets from the United States in 2022:
- Canada (513.2 tons)
- South Korea (478.9 tons)
- Guatemala (289.4 tons)
- Japan (124.6 tons)
- Dominican Republic (113.2 tons)
- Hong Kong SAR (86.2 tons)
- Nicaragua (47.4 tons)
- China (33.4 tons)
- Trinidad and Tobago (29.8 tons)
- Colombia (1.6 tons)
- Panama (1.1 tons)
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