Exclusive content
Ecuadorian shrimp, despite facing a 6% drop in exports, is set to make a significant appearance at the Seafood Expo North America.
Ecuador’s Presence at Seafood Expo North America
From March 10 to March 12, Ecuadorian shrimp will be showcased at the Seafood Expo North America in Boston. With an expansive pavilion covering 288 square meters, this marks the largest representation of Ecuadorian exporters in the event’s history. Eighteen prominent companies will be part of the Ecuadorian pavilion named “First Class Shrimp,” aiming to captivate the North American market.
Despite its prominence, the Ecuadorian shrimp industry faced setbacks in early 2024. January saw a 6% decrease in exports compared to the same period in 2023. While there was a 4.21% growth in volume, there was a concerning 16.70% decline in foreign currency earnings.
Importance of the US Market
The United States stands as the second-largest market for Ecuadorian shrimp, trailing only behind China. However, recent figures indicate challenges, with a marginal decrease in income generated from shrimp exports to the US market.
The drop in exports is part of a broader trend affecting the global seafood market. The United States Department of Commerce initiated investigations into alleged dumping and subsidy practices by shrimp-exporting countries, including Ecuador. A ruling on preliminary investigations is expected in late March and early April 2024.
Outlook and Participation in the Expo
Despite challenges, Ecuador’s participation in the Seafood Expo North America is significant. Coordinated by the National Chamber of Aquaculture of Ecuador (CNA), the expo provides a crucial platform for showcasing Ecuadorian shrimp to over 20,000 industry stakeholders from around the world.
The expo’s congress offers invaluable insights through over 30 educational sessions led by industry experts. Topics range from market trends and corporate social responsibility to compliance and sustainability, providing attendees with a comprehensive understanding of the seafood business landscape.