Ecuador, one of the prominent players in the global shrimp market, has been facing a persistent decline in its shrimp exports since the onset of 2024. According to the latest figures released by the National Chamber of Aquaculture (CNA), Ecuador’s shrimp exports amounted to 91,381 tons in February 2024, reflecting a 2% decrease compared to the corresponding period in the previous year.

Decrease in Volume and Value

The decline in export volume was accompanied by a reduction in export value, with the total worth of exports dropping by 11% in February 2024 compared to the same period in 2023. The average price of Ecuadorian shrimp stood at 4.96 USD/kg, marking a decrease of 9% year-on-year.

China retained its position as the primary destination for Ecuadorian shrimp, receiving 46,694 tons in February 2024. However, this figure represents a notable decline of 21% compared to the previous year. The revenue generated from shrimp exports to China also witnessed a substantial decrease, plummeting by 32% to USD 212 million. Furthermore, the average export price to China dropped by 14% to 4.53 USD/kg.

The United States emerged as Ecuador’s second-largest shrimp export market in February 2024, with 19,659 tons shipped. This volume marked a significant increase of 30% compared to the previous year. Despite the surge in volume, the average price of Ecuadorian shrimp in the US market experienced a slight decrease of 3% to 5.97 USD/kg.

Overall Performance in 2024

In the first two months of 2024, Ecuador exported a total of 180,592 tons of shrimp, amounting to USD 885 million in value. However, this performance reflected a decline of 10% in the average price of shrimp compared to the same period in 2023.