In 2022, more than half of the Ecuadorian shrimp was sold to China

Published 2023년 2월 10일

Tridge summary

In 2022, Ecuador's shrimp export market saw significant shifts, with China emerging as the primary market, absorbing 56% of the country's shrimp production, a rise from 46% in the previous year. Meanwhile, the United States, Europe, and the rest of America saw a decrease in their share of Ecuador's shrimp exports. Overall, shrimp exports from Ecuador reached $6,653 million in 2022, marking a 31% increase from 2021, but a slight slowdown compared to the 39.2% growth in 2021. Despite this growth, the industry faces challenges, with producers experiencing stagnant profit margins due to rising production costs and low international prices.

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

Original content

The markets for Ecuadorian shrimp had changes in 2022. At the end of the year, China became the main destination for Ecuadorian product, according to data from the National Chamber of Aquaculture (CNA). If in 2021, 46% of the local shrimp was sold to the Asian market, at the end of 2022 it became 56%. While other markets have seen their participation fall. For example, the United States went from 22 to 18%, Europe from 23 to 18% or the rest of America from 3 to 2%. In total, shrimp reached $6,653 million in 2022 for exports, a figure that represents an increase of 31% compared to 2021. Although the growth of shrimp sales to the world grew in double digits in 2022, the figures show a slowdown compared to 2021, a period in which it grew 39.2%, according to data from the Central Bank of Ecuador (BCE). Despite the expansion in the growth of exports, various sectors, including the shrimp industry, have mentioned that "sale is not income." "We exporters are ...

Source: Expreso