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Driving Growth: Strategic Pathways for Ecuadorian Shrimp Exports and Industry Advancement

ECUADOR
Friday, March 14, 2025, 04:00 (GMT + 9)

According to the latest data released by the National Chamber of Aquaculture of Ecuador (CNA), Ecuador's shrimp exports in January 2025 increased by 35% compared to the same period last year, reaching 102,145 tons.

The export value also saw a significant increase, rising by over 26% year-on-year to $544.5 million, indicating a positive start to the year for Ecuador’s shrimp industry. The average export price of Ecuadorian shrimp increased from $4.84/kg in January 2024 to $5.33/kg in January 2025.

Source: CNA. Click on the image to enlarge it

China remained the leading market, importing 58,191 tons of Ecuadorian shrimp worth $281.4 million. This represents a 15% increase in volume and a 25% increase in value compared to the previous year.

The average export value of Ecuadorian shrimp exported to China was $4.83 USD/kg, up 9.03% from the same period last year.

Source: CNA

The United States ranked second in shrimp imports from Ecuador, purchasing 18,968 tons of Ecuadorian shrimp for $124.7 million, up 14% in volume and 25% in value, with an average price of $6.58/kg, a 9.85% year-on-year increase.

Among European countries, France was the top purchaser of Ecuadorian shrimp by volume, with 4,272 tons, a substantial increase of 173.06%. Spain, a significant buyer, experienced a slight decrease in imports by 1.82% by volume, while Italy’s imports fell by 26.19%.

Source: CNA. Click on the image to enlarge it

Demand for Ecuadorian shrimp in Vietnam and Belgium increased sharply in January, with import volumes rising by 136.36% and 163.44%, respectively. Conversely, Russia saw a sharp decline of 29.78% in import volumes, potentially due to economic constraints and geopolitical factors.

In contrast, Ecuador exported less shrimp in both volume and value year-on-year in 2024, with a notable drop in shipments to China.

According to CNA, Ecuador exported 2.67 billion pounds of farmed shrimp in 2024, generating $6.07 billion, down 0.2% and 3.5% respectively compared to 2023.

Ecuadorian shrimp shipments to China, the country’s largest market, decreased by 13.9% in value to $3.01 billion compared to 2023 and by 8.2% in volume to 1.45 billion pounds. China's share of Ecuadorian shrimp imports fell from 58.9% by volume in 2023 to 54.2% in 2024.

China: An Important but Risky Market

China became Ecuador’s largest customer in 2019, playing a crucial role in the consumption of the South American country’s shrimp exports. High demand and significant purchasing power allowed China to quickly dominate Ecuador’s shrimp export structure.

However, this reliance also presents considerable risks, as the Chinese economy faces challenges, particularly the downturn in the real estate sector, leading to reduced consumer spending.

This dependence on a single market makes Ecuador’s shrimp industry vulnerable to economic fluctuations and China’s trade policies. The decline in exports to China last year posed significant challenges for the Ecuadorian shrimp industry, prompting businesses to seek risk mitigation strategies.

Market Diversification

Recognizing the risks of relying on a single market, Ecuadorian shrimp producers have begun to explore alternative markets. Countries such as the United States, Europe, and the Middle East are emerging as potential destinations for Ecuadorian shrimp exports.

However, penetrating new markets presents challenges. Each region has strict requirements for quality, quarantine, and food safety certification. While China tends to import large volumes of raw shrimp, Western markets prioritize processed products with higher added value. Therefore, Ecuadorian businesses need to invest in processing technology and improve product quality to meet the standards of these new markets.

Ecuador's Long-Term Shrimp Industry Strategy

To ensure sustainable development and minimize risks from fluctuations in the Chinese market, the Ecuadorian shrimp industry is pursuing long-term strategies:

• Developing a Sustainable Supply Chain: Implementing ecological shrimp farming models, minimizing environmental impacts, and adhering to international standards to appeal to Western consumers.
• Investing in Processing Technology: Increasing processing capacity and expanding the product portfolio to include peeled shrimp, seasoned shrimp, and convenient frozen shrimp to meet the demands of high-end markets.
• Diversifying Distribution Channels: Moving beyond reliance on large importers by expanding e-commerce and partnering with supermarket and restaurant chains to reach consumers directly.

Ecuadorian shrimp production is expected to increase by 3-4% by 2025. Ecuadorian shrimp production increased by an average of 14% from 2010 to 2023, slowing to 4% by 2024.

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