Farmed shrimp exports from Ecuador continued to fall in July 2024, dropping to 214.7 million pounds shipped – down 2.78 percent from the same month in 2023 and continuing the decline seen begun earlier this year.
In June 2024, Ecuador's exports slipped nearly 2 percent year over year, according to figures from Ecuador’s National Aquaculture Chamber (CNA).
In value terms, Ecuador’s shrimp exports reached USD 480.5 million (EUR 431.8 million) in July, decreasing 4.6 percent from the USD 503.9 million (EUR 452.8 million) registered in the same month of 2023. The average price of shrimp sold was USD 2.24 (EUR 2.01) per pound in July, slightly down from the USD 2.28 (EUR 2.05) seen in July 2023.
Shipments to Ecuador’s largest market, China, came in at 109.3 million pounds by volume and USD 222 million (EUR 199.5 million) by value in July 2024, respective year-over-year declines of 6.8 percent and 9.6 percent. Still, exports to China represented over half of all shipments in volume terms, reaching 50.9 percent, compared to 53.1 percent in the same month of 2023.
Europe presented Ecuador with gains in July, importing 52.7 million pounds of shrimp worth USD 121.7 million (EUR 109.4 million) – respective increases of 12.6 percent and 7.4 percent when compared to July 2023. Over the same period, Europe also increased its market share of Ecuadorian shrimp, growing from 21.6 percent to 25 percent in the month.
U.S. shrimp imports from all global suppliers dropped 12 percent in July 2024 due to weakened demand. CNA said that during the month, Ecuadorian exports to the U.S. fell 16.8 percent year over year in volume to 32.8 million pounds and 12.1 percent in value to USD 93.7 million (EUR 84.2 million). The U.S.’s market share of Ecuador’s shrimp exports fell to 15.3 percent from 17.9 percent in July 2023.
CNA has been vocal about the difficulties facing Ecuador’s aquaculture sector both abroad and domestically. It recently sounded the alarm about security in the country, stating the aquaculture, fishing, and agricultural sectors in Ecuador had suffered around 900 extortion attempts in just a 45-day span in July and August.
