Ecuadorian shrimp industry faces an unprecedented crisis because of falling prices

Published 2023년 7월 19일

Tridge summary

The price of shrimp in Ecuador has dropped to alarming levels due to declining consumption, rising transportation costs, insecurity in the country, and the expansion of illegal shrimp farming leading to oversupply. The oversupply has caused prices to drop, which has damaged sustainable producers and put pressure on prices. The Ecuadorian shrimp industry is looking to China's recovery as a lifeline, and measures need to be taken to ensure the survival and stability of the industry, including improving competitiveness, supporting small-scale producers, and implementing financial policies by the government.

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Original content

Undercurrent News quoted Jose Antonio Camposano, head of Ecuador's National Aquaculture Department (CNA), as saying the decline in consumption and other factors such as rising transportation costs and insecurity in the country. pushed prices down to alarming levels. The price even dropped below the level during the COVID-19 pandemic in 2020. Typically, Ecuador's price of whole shrimp (HOSO) averaged $4.10/kg for 20 to 30 shrimp/kg, down from $5.50/kg in the fourth quarter of 2022. Prices of Ecuadorian vannamei shrimp from week 26/2022 to week 28/2023. Source: Undercurrent News (Vietnamese: H.My) The Ecuadorian shrimp industry is also facing challenges due to the expansion of illegal shrimp farming leading to oversupply. In recent years, the shrimp industry in this country has had significant growth but also many controversies have broken out. Ecuador already has regulations on where shrimp production is allowed but there are cases of farming in areas where it is ...

Source: Vinanet