Insight Focus
Aquaculture is expanding in Brazil. Between 2016 and 2024, sector revenues nearly tripled, driven by attractive profit margins and strong productivity. Exports have grown steadily, though irregular supply and limited standardisation continue to constrain larger shipment volumes.
Brazil has been discussing for some time the need to diversify its agribusiness portfolio, which is based on the large-scale production of commodities such as soybeans, cotton, sugar, and meat. Aquaculture, a lucrative and rapidly expanding sector, may be one of the answers to this challenge.
Source: IBGE
Attractive profit margins, generally between 20% and 30%—and potentially reaching 50% when sales are made directly to end consumers or restaurants—have motivated an increase in fish farming.
There is strong demand for fish such as tilapia, one of the most consumed species in Brazil. The reproduction cycle lasts six to eight months. Yield can also reach between 5-10 tonnes/ha of water per year in tanks.
Tilapia
Public Policies Boost the Sector
But it was not always like this. The implementation of public policies for the sector was a milestone in the advancement of aquaculture in Brazil. One of the most important government actions was allowing the sector access to the same rural credit lines available for agriculture and livestock.
Tanks for tilapia farming
The government also allowed fish farming in net pens—formed by submerged nets or cages inside reservoirs—subject to environmental licensing and specific authorisations.
Finally, in 2003, the government created a policy to reduce the tax burden on feed used in aquaculture, with the exemption of PIS and COFINS taxes, federal social contributions on the gross revenue of companies. The results were not long in coming.
In eight years, between 2016 and 2024, revenue from aquaculture production grew by about 277%, rising from BRL 3.1 billion (around USD 580 million) to BRL 11.7 billion (USD 2.19 billion), according to IBGE.
Source: IBGE
Even with production and revenue on the rise, Brazil still exports relatively little fish. External sales totalled 9,100 tonnes in 2024, representing only a minimal portion of total production. It is true that exports have increased in recent years, but they remain below their potential.
Source: Comex
This is due to a combination of factors. One of the main challenges concerns the production model. Despite progress in recent years, 60% of Brazilian fishing is still artisanal, according to the Ministry of Fisheries and Aquaculture.
As a result, supply is often irregular and the products struggle to meet the standards required by importers.
This can create problems in high demand markets. In 2017, fish exports to the EU were suspended due to uncertainty surrounding some of the fishing processes used in Brazil. The good news is that European authorities are expected to conduct an audit of Brazilian meat processing plants in the first half of this year in order to resume purchases from Brazil.
The sector also continues to feel the impact of the 50% tariffs imposed on Brazil by the US in mid-2025. In November last year, several products such as coffee, meat and fruit were removed from the tariff hike, but fish remained on the list.
With the tariff hike, exports to the US, the main market for Brazilian fish, were affected in 2025. In the case of tilapia, shipments to the US totalled approximately 2,700 tonnes between January and June, falling to 1,400 tonnes between July and December, according to Comex.
Source: Comex
The market sought to reorganise itself by increasing exports to countries such as Uruguay and Peru, which rank second and third, respectively, among destinations for Brazilian fish shipments.
This helped sustain revenues. Revenue from fish exports reached USD 63.7 million last year, in line with the previous year’s result.
Source: Comex
Lessons from Other Protein Production Chains
Even amid challenges, aquaculture can learn from other animal protein chains that have grown significantly in Brazil. A good example is the cattle herd, which tripled in just over 50 years, rising from 75.4 million head in 1970 to approximately 238 million head in 2024, according to IBGE.
Source: IBGE
The use of technology, such as electronic ear tags that monitor animal health, along with investments in nutrition and genetic improvement, accounts for a large part of this growth.
Brazilian poultry farming has also changed significantly in recent decades. From an insignificant player in the international market, Brazil has become the world’s leading exporter of chicken. This was driven by high production efficiency, rigorous sanitary standards and cost reduction.
Increase in Global Demand
Another factor favouring the development of Brazil’s fish production chain is the prospect of global growth in the sector. Aquaculture is expected to grow by 35% by 2030, according to the FAO, due to the worldwide increase in demand for animal protein at a relatively affordable price.
In China, production increased by 22% between 2014 (47.6 million tonnes) and 2024 (60.8 million tonnes), according to the USDA, while in Vietnam production increased 5.4 times over the same period.
Source: USDA
Brazil, with its enormous water availability and scientific capacity, cannot remain on the sidelines.
