Ecuador’s shrimp exports in the third quarter of 2024 fell by 3% YoY

Published 2024년 11월 6일

Tridge summary

Ecuador's shrimp exports in Q3 2024 were down by 3% year over year, bringing the year total in line with 2023. Despite record-breaking exports in Q2 2024, Q3 failed to surpass expectations, with a decrease in exports to China and the US offset by increases in the EU, Russia, Japan, and Taiwan, diversifying export markets and reducing reliance on China and the US. The average export value to the US and Spain, Ecuador's largest EU market, increased, contributing to stabilizing or slightly increasing prices in some of its prime export markets.

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

Original content

Ecuador’s shrimp exports in q3 2024 down by 3% YoY. The 2024 year-total at par with 2023. While shrimp exports from Ecuador in Q2 2024 almost reached 350,000 MT (+11% year over year) for the first time in its history, Q3 failed to break another record. Exports stayed just below 300,000 MT, dropping 3% year over year. With a drop of 3% year over year in July and an increase of 6% in August, it looked like also Q3 may outperform previous years. However, in September, exports dropped 11% year over year, bringing the Q3 total down by 3% and the year total down by at par with 2023. With the drops in exports in Q3 to China and the US, respectively, down by 7% and 19% year over year, Ecuador’s exporters worked hard to diversify their export markets. Remarkable increases are seen in the EU (8%), Russia (108%), Japan (114%) and Taiwan (114%). With this diversification of markets, in Q3, the relative share of exports to China dropped from 56% in 2023 to 53% in 2024, and the share of exports ...

Source: Fish Focus