Ecuador’s shrimp exports in 2024 remained stable at 1.2 million metric tonnes (MT), showing no growth from the previous year. However, production appears to have slightly increased, despite a significant decline in exports to China. The drop in Chinese demand, particularly for head-on, shell-on (HOSO) shrimp, was offset by stronger sales of headless, shell-on (HLSO) and peeled shrimp to other markets.
The total export value for 2024 decreased for the second consecutive year, falling from £5.1 billion in 2023 to £4.9 billion in 2024. This decline reflects a period of lower shrimp prices across the industry.
Key export destinations showed varying trends. The United States saw a 4% increase in shrimp imports from Ecuador, totalling 214,745 metric tonnes in 2024. In contrast, shipments to China dropped by 8%, reaching 656,265 metric tonnes for the year. Exports to the European Union grew by 14%, with notable increases in shipments to Spain, France, Italy, and Portugal.
Asian markets saw mixed results, with Japan experiencing a significant 74% growth in imports, while Taiwan saw a tenfold increase in shrimp imports, fuelled by improving trade relations between the two nations. Lithuania also emerged as a growing export hub, with exports reaching 13,910 MT, benefiting from its role in distributing shrimp across Eastern Europe and Eurasia.
In terms of pricing, Ecuador saw positive trends in average shrimp prices for exports to China and Spain, while prices to the United States fell. The average price per kilogram for shipments to China rose to £4.12 in December 2024, while Spain saw an increase to £4.15/kg. Conversely, prices to the US dropped to £5.33/kg.
The mixed export results reflect both the challenges and opportunities faced by Ecuador’s shrimp industry in 2024.
