Shrimp prices in Ecuador will start to decline from 2023

Published 2023년 1월 24일

Tridge summary

The article provides an overview of the current prices for Ecuadorian HOSO shrimp, detailing a decrease in smaller sizes and an increase in larger ones, while highlighting that prices remain low compared to previous years and are among the world's lowest. Factors such as inflation, high feed prices, and concerns over global recession are impacting the industry, alongside reduced exports to major markets. Despite these challenges, there is optimism for future sales to the EU and US. At the 2023 Global Seafood Market Conference, Omarsa's Managing Director, Sandro Coglitore, expressed confidence in Ecuador's potential for growth, with predictions ranging from a 4% decrease to a 20% increase, with the central bank forecasting a more moderate 5.5% year-on-year growth.

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

Original content

Average prices for Ecuadorian HOSO shrimp were $4.40/kg for 20/30/kg shrimp; $4 per kg for shrimp size 30/40; $3.55/kg for 40/50 shrimp; $3 per kg for size 50/60; $2.60 per kg for 60/70; and $2.30 per kg for 70/80; $2/kg for 80/100; $1.80/kg for 100/120; and $1.60/kg for 120/140 in the third week of the year (January 16-22). This means an increase ranging from $0.05/kg to $0.20/kg for larger sizes compared to weeks one and two. However, despite this increase, prices are still far behind previous years and are among the lowest in the world. This is a concern for manufacturers. “Prices started to rise this year as demand from China started to pick up,” said a small Ecuadorian shrimp producer, who asked not to be named. “Currently, shrimp availability is also lower as some farmers are hesitant and unwilling to grow the crop due to a general sense of insecurity.” There are some issues of concern, including inflation (central banks are raising interest rates to fight it), high feed ...

Source: Fishretail