Ecuador increased its year-over-year shrimp exports in April, despite falling sales to its principal market – China – and lower per-pound prices, according to totals from the country’s National Aquaculture Chamber (CNA).
Ecuadorian shrimp exports in April reached USD 539 million (EUR 502 million) by value and 246 million pounds by volume, marking respective increases of 4.4 percent and 19.1 percent from the USD 516 million (EUR 481 million) and 207 million pounds registered in April 2023.
Average prices for the month’s exports reached USD 2.19 (EUR 2.04) per pound, compared to USD 2.50 (EUR 2.33) in the same month of 2023.
China continued to be Ecuador’s top market for shrimp, buying 56 percent of exports by volume in April 2024; however, that total dropped year over year from a year prior, when China bought 62 percent of Ecuadorian shrimp exports.
Ecuador’s next three top export markets increased their market share over the same period, with Europe rising to 19 percent from 16 percent; the U.S. increasing to 16 percent from 15 percent; and the rest of Asia besides China growing to 6 percent of the total Ecuadorian shrimp export market from 4 percent.
By value, exports to China fell 10.2 percent to USD 278 million (EUR 259 million) in April, compared to the USD 309 million (EUR 288 million) registered in the same month one year ago. Exports by volume to China, though, actually increased 6.4 percent to 137 million pounds, compared to the 129 million pounds exported in April 2023.
For Europe, Ecuadorian shrimp exports increased 19.6 percent and 39.6 percent in dollar and volume terms, respectively, to USD 105 million (EUR 97.8 million) and 47.5 million pounds, versus USD 87.7 million (EUR 81.7 million) and 34 million pounds exported in April 2023.
Ecuador's April shrimp exports to the U.S. increased 19.3 percent in value to USD 107 million (EUR 99.7 million) from USD 89.5 million (EUR 83.3 million) during the same month a year previously, while volumes jumped 28.1 percent to 40.5 million pounds from 31.6 million pounds.
Ecuador's gains in the U.S. market may be short-lived. In May, the U.S. Department of Commerce (DOC) unveiled its preliminary determinations on antidumping duties for Ecuador and Indonesia, with most companies in Ecuador facing an additional charge of over 10 percent to ship into the lucrative U.S. market. Indonesia, meanwhile, was handed antidumping duties of 6.3 percent.
The antidumping duties followed up an earlier investigation on countervailing duties for Ecuadorian shrimp. The DOC was initially going to hit Ecuador with a 7.4 percent duty, but after an appeal from the industry, the number was reduced to 2.89 percent.
