Ecuador becomes global tuna powerhouse, exports to hit 10-year high of over $1.6 billion in 2024

Published Apr 17, 2025

Tridge summary

In 2024, Ecuador's canned tuna and cooked frozen loin exports saw a 31% year-on-year increase, with a 25.5% rise in export volume, primarily due to an increase in tuna resources in the Eastern Pacific fishing area. Despite challenges like drought-related power shortages, the industry's stability in the global market is evident with the EU accounting for two-thirds of total exports. The industry's growth, along with Thailand, is driving a significant change in the global tuna trade. While facing challenges such as overfishing, environmental sustainability, market prices, consumer preferences, geopolitics, and climate change, the industry is also innovating through the launch of new products, providing opportunities for market growth and leading to a promising future.

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

Original content

Export structure optimized, with skipjack and yellowfin tuna showing their advantages According to the Ecuadorian Tuna Processing Industry Association (CEIPA), in 2024, Ecuador's canned tuna and cooked frozen loin exports increased by 31% year-on-year, and the export volume also increased by 25.5%. This growth is mainly due to the significant increase in tuna resources in the Eastern Pacific fishing area, with a total tuna catch of 930,000 tons throughout the year. Stable FOB prices for Skipjack (around $1,600 per ton) and Yellowfin (around $2,200 per ton) make Ecuador more competitive in the international market. Despite challenges such as power shortages due to the ongoing drought in the country until late 2024, the tuna industry has managed to maintain its important position in the global market. The EU market contributes nearly two-thirds In terms of export markets, the EU remains Ecuador's largest tuna export destination, accounting for 63% of total exports. Since the ...

Source: Foodmate