Honduran exporters of farmed shrimp continued to prioritize the Taiwanese market in 2023, despite the diplomatic rupture declared by the Honduran government. According to a report from the National Aquaculturists Association of Honduras (ANDAH), a significant portion of the exported shrimp found its way to Taiwan.

Historic Figures in Shrimp Exports

The total exported volume of farmed shrimp from Choluteca and Valle in 2023 reached a historic figure of 78,895,657 pounds. Notably, 30% of this volume, equivalent to 24,317,638 pounds, was directed towards the Taiwanese market. This occurred despite a 20% tariff imposed on shrimp entering the Taiwanese market since December 5 of the previous year.

Decline in Total Exports

A comparative analysis with 2022 reveals a notable decline in total exports. In 2022, 29,082,675 pounds were exported, constituting 38.5% of the total. However, in 2023, a significant drop of 16.38 points was observed, with the exported volume decreasing by 4,765,037 pounds.

Impact on Foreign Currency Generation

The decline in shrimp exports had a direct impact on the generation of foreign currency for Honduras. The foreign exchange earnings fell from USD 105.8 to 74.9 million in 2023, marking a substantial decrease of USD 30.9 million.

Price Dynamics and International Markets

The reduction in foreign exchange earnings can be attributed not only to the decrease in exported volume but also to the fall in the international price of shrimp. In 2022, the pound of shrimp in Taiwan was priced at USD 3.64, whereas in 2023, it dropped to USD 3.08.

Other Key Markets

While Taiwan remained the primary destination, Mexico secured its position as the second-largest market, receiving 22,227,775 pounds, which accounted for 28.17% of the total exported volume. The United States received a comparatively smaller share, with 2,538,675 pounds, constituting 3.21% of the total.

Regional Distribution of Exports

Shrimp exports to the European Union totaled 18,157,584 pounds, representing 23% of the total exported volume. Meanwhile, Central America received 10,506,975 pounds, making up 13.31% of the overall exports from Honduras.