Brazilian tilapia producers are hoping the country's change of government this week will help spark a period of new investment in the industry after a difficult year industry leaders would like to forget.

Veteran leftist Luiz Inacio Lula da Silva, known as Lula, took office for a historic third term on New Year's Day after narrowly defeating far right incumbent Jair Bolsonaro at the end of October in a bitterly divisive election campaign.

"Hopefully this means more resources for investments and speedier administrative processes by the government to make us more competitive," Francisco Medeiros, president of Brazilian aquaculture producers trade body Peixe BR, told IntraFish.