Ecuadorian exports of frozen warm-water shrimp to the United States witnessed a sharp decline in April 2024. According to recent data released by the US National Oceanic and Atmospheric Administration (NOAA), Ecuador shipped 9,881 tons of shrimp to the US during this period—a 45% decrease from the previous month’s 21,754 tons.

Impact of Anti-Subsidy Duties

The substantial drop in Ecuadorian shrimp exports follows the US Department of Commerce’s (DOC) preliminary decision to impose anti-subsidy duties on Ecuadorian shrimp. This decision has dealt a significant blow to the Latin American shrimp sector, resulting in the lowest export figures to the US since 2021.

The economic repercussions are stark: April’s exports amounted to USD 67.5 million, a decline of 32% from USD 98.7 million in the same period last year and a notable 54% drop from USD 148.1 million in March 2024. The average export price settled at USD 3.24 per pound.

India Maintains Lead Despite Minor Decline

India remains the largest shrimp supplier to the US, albeit with a slight decline in both volume and value compared to the previous year. In April 2024, India exported 21,168 tons of shrimp valued at USD 152.6 million, marking a marginal decrease of 1% in volume and 9% in value.

Despite the monthly dip, India’s shrimp exports to the US from January to April 2024 showed resilience, increasing by 5% in volume to 88,310 tons, valued at USD 648 million—a slight decline of 5% in value compared to the same period last year. The average price stood at USD 3.46 per pound, down 7% year-on-year but 1% higher than March 2024.

Indonesia Sees Opportunity Amidst Ecuador’s Decline

With Ecuador’s reduced shipments, Indonesia ascended to the second position among shrimp suppliers to the US in April 2024. However, Indonesian exports totaled 10,390 tons worth USD 78.5 million, reflecting declines of 23% in volume and 15% in value compared to the same period last year.

From January to April 2024, Indonesia exported 41,306 tons of shrimp valued at USD 307.9 million, down 18% in volume and 25% in value compared to the previous year. The average price was USD 3.58 per pound, down 5% from April 2023 but 1% higher than March 2024.

Vietnam’s Modest Gains in the US Market

Vietnam, holding the fourth spot among US shrimp suppliers, managed to increase its market share slightly in April 2024. Vietnam exported 4,701 tons of shrimp valued at USD 39.7 million, marking an 11% increase in volume while experiencing a slight 1% dip in value compared to the same period last year.

From January to April 2024, Vietnam shipped 15,268 tons of shrimp to the US, worth USD 150.2 million—a 19% increase in volume but a 9% decrease in value year-on-year. The average price settled at USD 4.59 per pound, down 8% from April 2023 and 4% lower than March 2024.