After holding steady for the first six months of the year at record high levels, the price of frozen 5/7 oz. treated tilapia fillets to distributors dipped a dime in July to $2.60/lb. Given that imports from China through June are up 15% to 65,000 metric tons, the weakness is not a surprise. The weakness may be temporary, though. Chinese processors say they are having a harder and harder time finding raw material to process, as some farms have switched to shrimp, which are selling at near record high prices. Facing a shortage of fish, in early September some Chinese processors have raised the delivered price they are quoting importers from $2.15/lb. to $2.25/lb. for 5/7 oz. fillets. China accounted for almost 90% of the U.S. supply of frozen fillets, with Indonesia the only other significant source. Through June, Indonesian exports of tilapia fillets to the U.S. were flat at about 5,500 metric tons. Look for frozen prices to firm a dime or so the last quarter of this year.