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Tridge Guide

Ecuadorian Shrimp Market Guide

HS Code: 030617 - Crustaceans; frozen, shrimps and prawns, excluding cold-water varieties, in shell or not, smoked, cooked or not before or during smoking; in shell, cooked by steaming or by boiling in water
Share in Export
16.19%Rank 2
Share in Import
0.01%Rank 88
Export Volume
1Y -22.02%
Import Volume
1Y -48.37%
Updated Jan 18, 2023

Market Penetration Strategy

What Are the Main Reasons Ecuadorian Shrimp Is Preferred in International Markets?

According to El Comercio, Ecuadorian shrimp is highly sought out for these reasons: 

  • Freshness. José Antonio Camposano, executive president of the National Chamber of Aquaculture explains that what consumer markets are looking for is not a processed product, but a fresh shrimp. "The pristine shrimp, which is caught, frozen, and sent to the destination market, is the one that the consumer is willing to pay the most for."
  • Size. Ongoing genetic research, which gained momentum after the devastating effects of the white spot virus, is targeting larger, faster-growing animals with greater resistance to disease.
  • Environmental care. Camposano highlights that consumers increasingly appreciate a product that is the result of good environmental practices. The head of the shrimp guild mentions that brackish land is used for the cultivation of crustaceans, which has no vocation for other agricultural activities, which is why more jobs are generated.
  • Quality. Ecuador exports a 'premium' shrimp. In the crustacean processors, the animal that comes out of the pools is selected whole, without physical defects, and that is the one that is destined for export. Animals that have defects of some kind have another fate.
  • Social factor. Another factor that the consumer rewards are the social ingredient behind the product that reaches the hangers. 60% of the people who work in the Ecuadorian shrimp production chain, from capture to processing, are women, according to the National Chamber of Aquaculture. According to its president, these women are mostly female heads of the household.

Frozen Common Shrimp & Prawn

General Product Introduction

What Are the Export Trends of Ecuadorian Shrimp?

  • Ecuadorian shrimp exports reached new records in H1 2022: Volume was recorded at 510 thousand mt, up 33% compared to the same period last year, while value totaled $3.29 billion, up by 58% YoY. Both volume and value were the highest levels on record for the first six months of a year.

Source: Tridge and Ecuador National Aquaculture Chamber

  • China gaining market share: China was the largest Ecuadorian shrimp export destination in H1 2022, with a trade volume of 269 thousand mt and a trade value of $1.669 billion. Value more-than-doubled from H1 2021 (+101% YoY) while volume grew 69% YoY. In trade value, China represented 51% of all shrimp exports from Ecuador during H1 2022, up from 40% in the same period last year. 
  • Value to other destinations continued to grow: In H1 2022, exports to the US grew in value by 34% YoY, exports to Spain 61% YoY, and exports to Italy 119% YoY. 

Source: Tridge and Ecuador National Aquaculture Chamber

Frozen Common Shrimp & Prawn

Who Are the Main Competitors of Ecuador in Frozen Shrimp Exports?

Taking the most recent data from the US, which is Ecuador's second largest frozen shrimp export destination and one of the major importers of frozen shrimp around the world, we can see that Ecuador's main competitors for this product are: India, Indonesia, Vietnam, Argentina, Mexico, and Thailand. Ecuador is the only one in this group of countries which has gained relevant share in US imports. 

Source: Tridge and USDA

Source: Tridge and USDA

Frozen Common Shrimp & Prawn
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