Additional reporting by Lewis Hu
Tilapia prices in China have fallen by 30% in three months amid a drop in demand from international markets, industry sources told Undercurrent News.
According to speculation in China, plummeting prices of the farmed whitefish follows the US White House administration's discussions about removing 25% tariffs on imports of certain Chinese goods, with US importers biding their time to see if tariffs on tilapia will be lifted.
"It's been quite dramatic," Ma Xiaohan, marketing and communications manager at Ocean Treasure, a Chinese seafood trading company, told Undercurrent, having visited tilapia processors and farms in Guangdong in early August. "Prices have gone from a historic high to a deep low in just three months."
Raw material prices have fallen from CNY 11.20 per kilogram ($1.66/kg) in April to CNY 8.00/kg in Guangdong province, according to Undercurrent's price dashboard. Prices in Hainan reportedly fell to CNY 7.40/kg in July [...]
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