The Boston seafood exhibition was bustling with visitors from the US and Asia, and Ecuadorian producers were pleased with the outcome of the fair as they were looking to expand their clientele, rather than making sales.
However, mid-size Ecuador companies in the US market face tough competition from larger Ecuadorian firms.
The US market is currently facing a slowdown due to a surplus of inexpensive locally stock shrimp, unfavorable economic conditions, and importers waiting for India’s first crop pricing.
In Ecuador, the harvest is set to begin today and is expected to last several days.
Unfortunately, heavy rain and an earthquake in the past two weeks have caused some ponds to lose shrimp. As a result of the rain, shrimp sizes increased and small shrimp were less available.
Although a price drop was expected, no significant changes were observed until yesterday.
It remains uncertain whether the price will increase or decrease, but any movement ,if any, is likely to be in the larger shrimp sizes.
It is due to the current situation that small-sized shrimp are limited, causing factories to struggle to fulfill orders and prefer not to accept small size orders.
In India, the first crop harvest of shrimp is expected to be delayed from April to May and also be prolonged due to farmers postponing the process of seeding their farms.