Ecuador’s need and ambition to diversify its markets
Ecuador is expected to increase its production significantly to about 700,000 metric tons by optimizing its production systems. Ecuador’s leading exporters have been preparing for this through investments in their processing capacity. But what about the market? In 2018, price dynamics have shown that there is no longer a supply shortage of shrimp on the global market and that prices are expected to stabilize at a lower level than before. For Ecuador, which is confronted with relatively high labour costs, it will be a challenge to compete on price with its Asian counterparts. How will Ecuador deal with this challenge? ShrimpTails dived into it to get an understanding of the strategies that Ecuadorian exporters are applying ...
Photo courtesy of Seafood Trade Intelligence Portal