Ecuador’s shrimp exports fall in October, with bleak outlook for rest of 2024

Published 2024년 12월 4일

Tridge summary

Ecuador's shrimp exports in October 2024 fell to their lowest level in two years, with a 12.3% decrease in volume and a 10.9% decrease in value compared to the same month in 2023. This decline is due to both international factors such as weakening demand and the impact of inflation on consumers, as well as domestic issues like an energy crisis leading to unexpected power outages. The U.S. International Trade Commission's decision to impose duties on frozen warmwater shrimp from Ecuador and other countries is also contributing to the challenge. The export volume was 190 million pounds, and the export value was USD 441 million (EUR 420 million).

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

Original content

Shrimp exports from Ecuador continued to slip in October 2024 as the country has faced domestic and international hurdles that have stymied growth.“Just as we had anticipated, the complex situation of the international markets and the [domestic] energy crisis have impacted shrimp exports, which in October registered 190 million pounds – the lowest level in the last two years,” Ecuador National Chamber of Aquaculture (CNA) Executive President José Antonio Camposano said on X. “The remaining months [of 2024] will fall even more.”Ecuador's October export totals were 12.3 percent lower than the 216 million pounds seen in October 2023. In respective value terms, exports fell 10.9 percent to USD 441 million (EUR 420 million) for the month, compared to USD 495 million (EUR 471 million) in the same month of 2023.In international markets, aquaculture farmers have seen demand weaken as consumers, affected by inflation, have turned to cheaper alternatives for their protein. The scenario has ...

Source: Seafoodsource