Ecuadorian shrimp prices fall to an alarming level, export turnover in 2023 is expected to be flat

Frozen Common Shrimp & Prawn

Seafood

Ecuador

Published Jul 26, 2023

Tridge summary

Ecuador's shrimp prices have fallen to alarming levels, with the average export price decreasing by 17% year-on-year. Factors such as declining consumption, increasing operating costs, and the expansion of illegal shrimp farming have contributed to this situation. Despite the challenges, Ecuadorian shrimp still has certain advantages, including the density of shrimp farming, improvements in shrimp growth rates, and efficient processing systems, which help increase competitiveness.

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

Ecuadorian shrimp prices fall to alarming levels According to the Association of Seafood Exporters and Producers (VASEP) in May, Ecuador's shrimp exports reached 107,419 tons, equivalent to 574 million USD, up 13% in volume but down 6% in value over the same period in 2022. . Accumulated in the first 5 months of the year, Ecuador's shrimp exports reached 496,739 tons, up 19% in volume, export turnover reached about 2.7 billion USD, equivalent to the same period in 2022. Currently, China is still Ecuador's largest shrimp market with May imports reaching 68,450 tons, up 40% over the same period last year. Meanwhile, export volume to the US reached 15,463 tons, down 15%. Exports to Spain, Ecuador's largest market in Europe, reached 4,293 tons, down 35% year-on-year. Ecuador's average shrimp export price was at $5.34/kg, down 17% year-on-year and down month-on-month. In China, the average export price was $5.11/kg, down 18% year-on-year. In the US, the average export price was ...

Source: Vinanet