According to data tracked by the Brazilian government's Center for Advanced Studies in Applied Economics (CEPEA), the price of tilapia in Brazil has continued to fall due to a substantial increase in the biomass in fish ponds and weakening domestic demand.

CEPEA researchers noted that oversupply has put tremendous pressure on the market. "As a result, tilapia prices fell further in September and have continued to fall since October." The agency said in a recent statement.

Contrary to the decline in domestic prices, exports of Brazilian tilapia have increased significantly. In September, Brazil exported 1,600 tons of tilapia products (including fillets), an increase of 17.4 percent compared to the previous month and 60.2 percent year-on-year.

"This export growth reflects the ample domestic supply of tilapia, enabling more products to reach international markets," CEPEA said.

The data show that the most significant drop in prices was in Grandes Lagos, where prices dropped to R$7.76 (about $1.41) per kilogram in September. Prices also fell month-on-month in Parana Norte and Parana West, to  R$8.92 and  R$7.96 per kg, respectively, and in the Moradanova region of Minas State, to  R$7.95 per kg.

According to the latest data (week 41, October 7-13), prices in Parana Norte and Parana West remained stable month-on-month at R$8.94 and R$7.95 per kg, respectively; The price is R$7.65 in Rio Grande Lake and R$7.90 in Moradanova.