By 2024, Ecuador's Santa shrimp production is expected to increase to 350,000 tons

Published 2024년 6월 25일

Tridge summary

In 2023, Santa, a shrimp processing company, reported a slight increase in operating income and gross profit, but a decrease in net profit due to falling global shrimp prices. The company is set to open a new processing plant in June, increasing its production capacity. Santa is the largest employer in Ecuador and is expanding its sales in the United States and China. In 2024, the company plans to improve efficiency and acquire new farms. The U.S. Department of Commerce has imposed anti-dumping duties on Ecuadorian exporters, with Santa receiving a low duty rate, giving it a competitive advantage.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In 2023, Santa's operating income was $1.47 billion, up 0.5% year-on-year; gross profit reached $230 million, up 11% year-on-year; net profit fell from $123 million in 2022 to $99.4 million, mainly due to the continued decline in global shrimp prices. Santa's seventh processing plant (located in Guayaquil) will be put into operation in June this year and is expected to be fully operational within a few months. It mainly produces whole shrimp, decapped shrimp and deshelled shrimp, with a monthly production capacity of about 11 million pounds and an annual production capacity of 60,000 tons. Together with Santa's existing processing plants, it is expected that starting in August, Santa's monthly processing volume will reach 60-65 million pounds, excluding the capacity of third-party cooperative processing projects. . Currently, Santa is the largest employer of labor in Ecuador, with more than 17,000 employees. At the same time, Santa is constantly expanding sales in the United ...

Source: Foodmate