Surge in Export Value of Brazilian Aquatic Products in 2023 Highlights Industry Resilience

aquatic products

In the ever-evolving global seafood market, Brazilian aquatic products have stood out in 2023, demonstrating significant economic resilience and adaptability. According to the latest data from the Brazilian Ministry of Economy, the export value of these products has seen a notable increase of 4%, reaching a total of 24.7 million US dollars. This growth comes amidst a challenging scenario where the export volume has decreased by 20%, highlighting a strategic shift in the types of aquatic products Brazil is offering to the world.

Understanding the Dynamics Behind Aquatic Product Exports

Francisco Medeiros, CEO of Peixe BR, provides insight into the underlying factors of these market movements. “The variation in export volume and value is attributed to shifts in the assortment of products exported in recent years,” Medeiros explains. A remarkable aspect of this shift is the increase in the average price of exports from $3.49/kg in 2022 to $4.23/kg in 2023, marking a 21.2% rise. This indicates a move towards higher-value products in Brazil’s export strategy, despite a reduction in overall volume.

Tilapia: The Front-Runner in Brazilian Aquatic Exports

Tilapia and its derivative products have emerged as the frontrunners in Brazil’s aquatic product exports. Generating revenue of $23.3 million, tilapia continues to dominate, witnessing a 1% increase in export value year-on-year, although the volume saw a 22% decrease. The state of Parana leads the charge, accounting for 80% of the total tilapia export value at $18.6 million. Following are São Paulo and Bahia, with export values of $2.7 million (12% of the total) and $1.3 million (6% of the total), respectively.

Aquatic Products - Tilapia

Brazil’s Main Seafood Trading Partners

The United States remains the primary market for Brazilian aquatic products, importing around $21.7 million worth, which constitutes 88% of Brazil’s total fish product exports. China and Japan follow, with imports valued at $674,146 (3% of the total) and $550,294 (2% of the total), respectively. These figures underscore the strategic importance of these markets and Brazil’s successful penetration into diverse global regions with its aquatic offerings.

A Future Focused on Value over Volume

The export scenario of Brazilian aquatic products in 2023 paints a picture of an industry that is strategically navigating global market trends. By focusing on higher-value exports amidst volume reductions, Brazil is not just compensating for quantitative declines but is also enhancing its position in the global seafood market. As Brazilian exporters continue to adapt and evolve, the future looks promising for the country’s aquatic product industry, marked by sustainable growth and an expanding global footprint.

This strategic shift towards prioritizing value over volume, led by the robust performance of tilapia exports, signals a mature approach to international trade. It reflects Brazil’s ability to adapt to changing market dynamics and continue to play a pivotal role in the global supply of high-quality aquatic products.

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