Ecuador’s shrimp exports set another record in May.

Lily - Senior Analyst
Lily - Senior Analyst
15 Jul 2022
Vannamei Tip
# 20
Ecuador’s shrimp exports set another record in May.

Ecuador’s monthly shrimp exports hit 95,000 tons in May, breaking a previous record, trade data showed.

Strong shipments to key markets in China, the U.S. and Europe boosted Ecuador’s monthly exports by 14% from April and 29% from May 2021.

Ecuador’s shrimp exports hit record highs as strong demand in the market pushed up prices. In May, Ecuador exported shrimp worth US$610 million, up 50 percent year-on-year.

Shipments to China were the most notable, up 56% year-on-year to 49,000 tons, according to data released by the Ecuadorian National Aquaculture Chamber (Camara Nacional de Acuacultura). The US imported 18,000 tons, down 14% year-on-year, a rare downturn. But this was offset by an 8% year-on-year increase in exports to Europe to 17,500 tons. This means that in the first five months of 2022, Ecuadorian shrimp packers exported 416,000 tons, more than Vietnam’s exports for the whole year.

At the same time, the increase in export volume has also increased the value of key markets. In May, exports to China, the United States and Europe reached $304 million, $130 million and $110 million, respectively.

After some volatility, average export prices appear to have stabilized in the $6.40 to $6.50/kg range, with the average unit value of exports in May at $6.45/kg. This means that unit prices have risen by 16% compared to May last year. But this is partly due to the impact of inflation on the aquaculture and processing supply chain, with higher values offsetting the rising cost of shrimp farming in Ecuador.

 

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