Demand for tilapia is falling worldwide, according to a new study.
The global tilapia trade fell 6% in the first two quarters of 2017, driven by increased demand for other specialty fishes, according to the report, from Fact MR.
Those alternative fishes include pangasius, according to the study.
“A special palate for pangasius has been witnessed among seafood consumers worldwide. Led by Vietnam, nearly half of the global supply of pangasius is held by India, Bangladesh, Indonesia, Malaysia, and China. The U.S. and China continue to remain largest consumers of pangasius. Following the increasing domestic demand and lower prices of pangasius, Chinese tilapia farmers are adopting farming of other fish varieties including pangasius. These dynamics continue to deter the future growth of the Chinese tilapia exports in prominent tilapia market.”