Brazil sees potential 20% seafood export revenue growth from reopening EU market

Key summary

The Brazilian Ministry of Fisheries stated that the reopening of the European Union market for seafood, which has been suspended since 2018, could potentially increase the country's export value by approximately 20%, from the current level of 472 million US dollars. This process is currently in the stage of reviewing Brazil's responses to the European Union's recommendations. Brazil is expanding its foreign markets by accessing more than 20 new markets, including the United Arab Emirates. Domestic consumption remains low, at 10-12 kilograms per capita per year, with states in central-southern and southern regions consuming only 2-5 kilograms. The consumption promotion project includes incorporating seafood into school meals. Tilapia is an example of a successful domestic production, even without a coastline. The expansion of exports and domestic consumption creates opportunities for Thai fisheries products, particularly processed products and raw materials for the food industry.