News

Ecuadorian shrimp exports in 2024; focus more on value-added products

Frozen Common Shrimp & Prawn
Seafood
Ecuador
Market & Price Trends
Published Nov 17, 2023

Tridge summary

Ecuadorian shrimp export volume has increased due to recovery in the Chinese market after the COVID-19 pandemic, with Ecuador supplying 70% of China's shrimp imports. However, the average export price has decreased by 18%, attributed to oversupply and falling demand in Europe and the US. Despite challenges, Ecuador aims to focus more on value-added processed shrimp in order to sustain its shrimp production and exports.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to the Vietnam Association of Seafood Exporters and Processors (VASEP), Ecuadorian shrimp export volume continues to be boosted thanks to the recovery to the Chinese market after the COVID-19 epidemic. Before the COVID-19 epidemic, Ecuador announced its intention to reduce its dependence on China to switch to other markets, but China's demand for Ecuadorian shrimp is still good. Ecuador supplies 70% of China's shrimp imports compared to India's 18%. The average export price is 5.28 USD/kg, down 18% over the same period last year. “Despite increased export volumes, the average price of Ecuadorian shrimp exports is still falling, partly due to oversupply from Ecuador, India and some major shrimp farming countries and falling demand in Europe and the US,” VASEP said. Evaluate. In September 2023 alone, Ecuador's frozen shrimp exports reached a total of 107,361 tons, worth 548 million USD. The average export price of Ecuadorian shrimp in September 2023 is 5.10 USD/kg, up from ...
Source: Vietstock
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