News

Ecuador's white shrimp production increased in April

Published May 20, 2024

Tridge summary

Ecuador's white shrimp industry achieved a record production of 111,000 tons in June 2023, but concerns have been raised about the significant supply drop and resulting price increase. The first quarter of 2024 witnessed a 8% decrease in exports and a 17% drop in export value, with China, the largest market, experiencing a 27% decline. Despite these challenges, including industry consolidation and the risk of less efficient plants closing due to technological advancements and a focus on efficiency, the industry remains resilient, showing strong production capacity and market adaptability. Ecuador has also seen growth in smaller markets like Japan, the Netherlands, and Greece, despite a decrease in imports in France and China.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The record high for Ecuadorian white shrimp production was 245 million pounds (about 111,000 tons) in June 2023. Despite this, some industry insiders are concerned about the sharp reduction in supply and the subsequent price increase, calling for a balance between production and price. In the first quarter of 2024, Ecuador's white shrimp imports declined. The country exported 272,432 tons (600 million pounds) of white shrimp in the first three months of 2024, down 8% year-on-year. At the same time, the export value fell 17% to US$1.345 billion, and the unit price fell 10% on average to US$4.94 per kilogram. China is Ecuador's largest export market, with shipments falling 27% in the first quarter and export value decreasing 38% to 6. 2.3 billion, with unit prices falling by an average of 15% to $4.49 per kilogram. In addition to China, France is the only top ten market to see a decline in both volume and value of white shrimp imports, with imports falling by 17% and value ...
Source: Foodmate
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