Shrimp exports from Ecuador continued to slip in October 2024 as the country has faced domestic and international hurdles that have stymied growth.
“Just as we had anticipated, the complex situation of the international markets and the [domestic] energy crisis have impacted shrimp exports, which in October registered 190 million pounds – the lowest level in the last two years,” Ecuador National Chamber of Aquaculture (CNA) Executive President José Antonio Camposano said on X. “The remaining months [of 2024] will fall even more.”
Ecuador's October export totals were 12.3 percent lower than the 216 million pounds seen in October 2023. In respective value terms, exports fell 10.9 percent to USD 441 million (EUR 420 million) for the month, compared to USD 495 million (EUR 471 million) in the same month of 2023.
In international markets, aquaculture farmers have seen demand weaken as consumers, affected by inflation, have turned to cheaper alternatives for their protein.
The scenario has become even more complicated since November, when the U.S. International Trade Commission (ITC) voted to impose duties on frozen warmwater shrimp from countries including Ecuador after determining the U.S. industry is being negatively impacted by imports of the products.
The U.S. Department of Commerce’s final determinations hit Ecuador with a 3.78 percent countervailing duty for the shrimp industry overall, and targeted companies Santa Priscila with a 3.57 percent duty and Sociedad Nacional de Galapagos with a 4.41 percent duty. It did not levy any antidumping duties against the country.
Domestically, unexpected power outages battered Ecuador at the end of September, with blackouts lasting up to 12 hours a day. The CNA estimated at the time that each day the outages continued, economic losses to the nation’s shrimp sector could exceed USD 5 million (EUR 4.8 million).
All of these factors have affected production, with exports to two of Ecuador’s three primary destination markets falling in the month …
