Ecuador’s shrimp production for April 2024 has defied earlier forecasts of a decline. Despite initial concerns over a potential decrease in output for the year, Ecuador has managed to sustain its shrimp production levels.

Export Growth Signals Stability

Ecuador’s shrimp export numbers for April paint a promising picture, with a notable 12% increase compared to the same period last year. The country exported a total of 232.8 million pounds of shrimp.

However, amid the positive export figures, concerns linger within the Ecuadorian shrimp industry regarding potential supply shortages and subsequent price hikes.

Fluctuations in Import Trends

The first quarter of 2024 witnessed fluctuations in Ecuador’s shrimp import statistics. While there was a notable 8% decrease in shrimp imports, the value of exports plummeted by 17%, accompanied by a 10% drop in average prices.

Notably, there have been significant shifts in Ecuador’s shrimp export destinations. While exports to traditional markets such as China and France saw declines, other markets experienced substantial increases. Japan, the Netherlands, and Greece emerged as key importers.

Predictions for the Future

Mr. Sandro Coglitore, CEO of Omarsa, remains cautiously optimistic about Ecuador’s shrimp production outlook for 2024. He believes that maintaining current production levels is feasible, provided that certain external factors, such as US countervailing duties and anti-dumping taxes, remain favorable. Additionally, the trend of business consolidation, driven by advancements in science and technology, is expected to further reshape the Ecuadorian shrimp industry landscape.