In 2024, Ecuadorian shrimp manufacturers will expand exports of value-added products

Published Nov 6, 2023

Tridge summary

Ecuador's vannamei shrimp production is unlikely to experience significant growth in 2024, with the double-digit growth trend expected to diminish permanently. The country will focus more on the European and American markets amid challenges in China, Europe, and the United States. Chinese buyers need to restock before the Spring Festival next year, but they are cautious due to uncertain economic conditions and potential inventory issues.

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

Original content

Facing the persistent challenges in the global market, Ecuador's vannamei shrimp production is unlikely to see another blowout growth in 2024, and the double-digit growth trend is likely to be gone forever. At the Qingdao Fisheries Expo, Sandro Coglitore, general manager of Ecuadorian exporter Omarsa, told UCN: "Starting next year, Ecuadorian white shrimp production will no longer show a 15% growth rate. But I don't think Ecuador will reduce production, at least it will be the same as this year. .” Coglitore explained that Ecuador’s export volume in 2024 will depend on the proportion of shelled shrimp and value-added shrimp. In the challenging environment of China, Europe and the United States, Ecuador will pay more attention to the European and American markets. If the export volume of value-added products increases, then exports The total amount will decrease. "Next year, we will see how many value-added products Ecuador will export. In 2024 we need to further ...

Source: Foodmate