Ecuador to increase shrimp exports to Japan amid US restrictions

Ecuador has experienced a significant surge in shrimp exports to Japan, with a 4.5-fold increase over the past five years, reaching 7,034 metric tons in 2023. This growth is largely due to the competitive pricing of Ecuadorian shrimp, which has become more attractive as prices have stabilized and narrowed in comparison to Indian shrimp, amidst reduced demand from the US and China. Despite Japan's shrinking shrimp market, which is anticipated to hit a 40-year low of 200,000 metric tons in 2023, the country remains a key consumer of shrimp, highlighting the strategic importance of the Japanese market for Ecuador's shrimp industry.