Market transformation is imminent, Honduras white shrimp exports fall short of expectations

Published 2024년 10월 28일

Tridge summary

The Honduran shrimp farming industry is experiencing a significant downturn, with over 60 farms shutting down due to a decrease in export volumes. This has led to a projected loss of US$63 million and the loss of approximately 6,000 jobs. The decline is attributed to changes in export markets, including the resumption of diplomatic relations between Honduras and China, which had previously resulted in a 20% tariff on exports to China. The largest shrimp company in the country, Empacadora de Camarones Santa Ines, has also laid off a large number of employees.

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Original content

Overseas media reported that the Honduran shrimp farming industry is currently facing the challenge of export market transformation. This year's export volume has decreased significantly, resulting in the closure of more than 60 farms, with an estimated loss of US$63 million. Since China and Honduras resumed diplomatic relations, Honduras has only exported two containers to mainland China in June to enjoy the free trade agreement. Prior to this, Honduras' diplomatic relations with Taiwan broke down, so exports to Taiwan required a 20% tariff. Javier, president of the Honduran National Aquaculture Association (Andah), Amador said Honduras' exports have fallen sharply this year, with exports to Taiwan falling by 14.7 million pounds (6,668 tons) and exports to Mexico falling by 7 million pounds (3,175 tons) from January to September. The decline in exports has had a profound impact on the aquaculture industry, which lost $63 million in the first three quarters alone, and the loss is ...

Source: Foodmate