Ecuador’s Resilient Growth in Shrimp Exports Despite Global Price Declines in 2023
Fresh Common Shrimp & Prawn
Fresh Coldwater Shrimp & Prawn
Seafood
Ecuador
Market & Price Trends
Ferhat Erdem
Published Oct 2, 2023
Ecuador continues to experience robust growth in shrimp production, defying the trend of declining global shrimp prices. The country is on track to export 1.5 million metric tons (mt) of shrimp in 2023, with China alone importing 900 thousand mt in the first half of 2023, marking a 30% increase compared to the previous year. Ecuador anticipates a 15% rise in shrimp exports for the year.
Ecuador's emergence as a leading shrimp exporter is notable, surpassing India in recent years due to disease-related challenges. India saw a 30% drop in broodstock imports, potentially leading to a significant production decline in the second half of 2023. Meanwhile, Vietnam encountered a challenging start to 2023, with a 31% decline in shrimp exports in Q1 2023 and a 39% drop in Q2 2023. Forecasts indicate a 25% decrease in shrimp exports for the year, totaling around 284 thousand mt. Ecuador's resilience and adaptability in the global shrimp market position it as a key player in the industry.
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