Ecuador exported a record 76 million pounds (34,470 metric tons – MT) of shrimp in May despite enduring a difficult start to the year, although industry officials have highlighted that prices have tended to trend downward over the past three years.
An earthquake in April this year affected around 12,000 hectares of shrimp farming regions, with the loss of many thousands of pounds of stocks. It has now been confirmed that the country’s National Finance Corporation (CFN) has allocated loans for USD 1.2 million (EUR 1.1 million) to those shrimp companies affected.
Meanwhile, Ecuador’s shrimp industry and other seafood sectors could expect to benefit from ongoing free trade negotiations the European Free Trade Association (EFTA). Merchandise trade between Ecuador and the EFTA States – Iceland, Liechtenstein, Norway and Switzerland – has increased at an average annual rate of 10 percent between 2005 and 2015.
Last year, Ecuador’s shrimp production totaled 750 million pounds (340,195 MT), with exports to more than 50 markets generating revenue of USD 2.3 billion (EUR 2.1 billion).
