African tilapia: “the fastest growth segment of the aquaculture world”

This was one of the key messages delivered by Rabobank's Gorjan Nikolik at this year’s Global Seafood Alliance Summit, during a presentation which focused on tilapia production forecasts from around the globe, based on responses from GSA’s annual production survey. ”In terms of tilapia, Africa and South America are really interesting. Egypt is starting to grow again. According to past survey respondents there is demand, but there is limited space thus growth has to come through more efficiency and more effective feed. For the past few years the impression was that Egypt was plateauing.

“But the most exciting part is the rest of Africa, which is forecast to grow by 29, 20 and 23 percent [in 2023, 2024 and 2025]. And the historic CAGR is already high, at almost 12 percent,” he continued.

“If you break it down by country, I would single out Zambia, Ghana and Kenya. They are adding between 30 and 40 percent by 2025. Especially Kenya. They were making 20,000 tonnes in 2018, and in 2026 they'll be at 90,000 if the survey results materialise. In terms of Latin America, the GSA survey suggests that growth in Brazil will continue apace. Nikolik wrapped up by aggregating the forecasts from each of the countries, and pointed to the overall upwards trajectory.

“When you put everything together, you see a global industry which has started to grow again. We had a historical growth rate of 5.2 percent, but around 2020 it had problems with Covid and then it slowly came back to growth – 5.9 percent would be very strong for 2023, 4.1 percent next year and 4.7 percent for 2025 is good for an industry that’s just about to cross the 7 million tonne mark,” he concluded.

Above article are excerpt from: https://thefishsite.com/articles/african-tilapia-the-fastest-growth-segment-of-the-aquaculture-world

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