The US, Spain and Colombia consume less Ecuadorian fish

Seafood

Ecuador

Market & Price Trends

Published Feb 27, 2024

Tridge summary

In 2023, the fishery industry experienced a challenging year with a 5.4% decrease in sales, ending at $1,875 million. This was mainly due to a drop in shipments and high sea temperatures. The top sales item, tuna loins and canned tuna, saw a 2.7% decrease in revenue, while the frozen fish category experienced the biggest drop of 29.2%. Despite these challenges, Ecuador saw an increase in fishmeal and fish oil sales due to El Niño weather conditions affecting production in Peru. However, key markets like the US, Spain, and Colombia purchased significantly less.

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

2023 was an 'against the current' year for fishery exports. The high sea temperatures of the first months of the year and lower purchases from the main markets meant that the year ended with $1,875 million in sales, 5.4% less than 2022 ($1,981 million). According to figures from the National Chamber of Fisheries (CNP), the red results are mainly due to the drop in shipments, since that year 491,605 tons were exported, which meant 46,560 tons less when compared to the previous year. YOU MAY BE INTERESTED (Ecuador closed 2023 with a deficit of $194 million in its non-oil balance) Of the $1,875 million invoiced, $1,237,129 corresponded to Tuna loins and canned tuna, the first sales item that recorded 2.7% less revenue. The biggest drop, however, was recorded in the frozen fish category, with -29.2%, while fish fillets billed 17% less. The El Niño weather conditions, which affected the production of fishmeal in Peru, one of the main global suppliers, made Ecuador have better income in ...

Source: Expreso