Ecuador achieved remarkable milestones in its shrimp export sector during December, marking one of the most successful periods in its history. Despite facing challenges, particularly in the realm of income generation, the country’s shrimp industry surged ahead.

Impressive Export Figures

Whiteleg shrimp exceeded all expectations by reaching a total export volume of 1,108,325 tons in December alone. These exports generated revenues totaling USD 6.288 billion, with an average price of USD 5.67 per kilogram. This figure outstrips the initial projections for 2023, which were set at 1 million tons.

In contrast, Argentina’s shrimp industry faced difficulties, grappling with declining demand and stiff competition from Ecuador’s vannamei shrimp. The wild and natural premium shrimp from Argentina, totaling just over 201,484 tons in 2023, struggled to maintain its market share amidst changing consumer preferences.

Ecuador’s Export Growth

Ecuador’s shrimp export volume surged by 18% compared to December 2023, signaling a robust performance that bolsters the nation’s economy. Throughout 2023, Ecuador exported 1.11 million tons of whiteleg shrimp, marking a 14.45% increase in volume. However, this translated to a 5.46% decrease in revenue compared to the previous year, largely due to declining international prices.

Analysts attribute the decline in prices to a combination of factors, including international market dynamics and sustained demand for shrimp products. To counter these challenges, stakeholders in Ecuador’s shrimp industry are exploring new strategies to penetrate untapped markets and bolster demand.

Strategic Export Destinations

Ecuador predominantly exports its shrimp to key markets such as the People’s Republic of China, which accounts for 57% of total exports, followed by the United States, Spain, Italy, and France. The European Union and the United States collectively absorb 35% of Ecuador’s shrimp exports, with the remaining 8% distributed among other countries.