May 23, 2011

Taiwan grouper and tilapia prices rise

The prices of Taiwan's grouper and tilapia, which saw a significant drop in 2009, have risen this year as a result of the economic recovery, representatives of the aquaculture industry in southern Taiwan said.

The southern city of Tainan, the major production area for tilapia, accounts for 25-30% of the total amount of fish farmed in Taiwan, said the Agriculture Bureau of the Tainan city government.

Taiwan is a global leader in tilapia farming, and exports the fish to US, Europe, South Korea, Japan and the Middle East, said Chen Lien-Yi, honorary chairman of the Nan Yin Aquaculture Association.

In addition to the economic recovery, the March 11 earthquake in Japan has also helped increase demand for Taiwanese tilapia and has boosted the export price to TWD40 (US$1.39) per kg, up from a 2009 low of TWD18 per kg (US$0.63), Chen said.

The cultured grouper industry in southern Taiwan's Kaohsiung City has also seen strong growth in 2011 due to high demand in Taiwan and China, said Ho Tse-Liang, chairman of the Yungan Fishermen's Association.

The price of grouper reached a high of TWD520 (US$18) per kg several years ago but dropped significantly to TWD150 (US$5.2) per kg in 2009, rising to around TWD300 (US$10.4) per kg last year, Ho said.

Annual grouper production reached more than 10,000 tonnes, with a market value of more than TWD2 billion (US$69 million), according to another association official, who added that 70% of Taiwan's groupers are exported to China and Hong Kong, with the remaining 30% sold locally.