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Ecuador's shrimp exports in the first 10 months of this year exceeded those of all of 2021

 Last Update: 2023-02-02
 Source: Internet
 Author: User

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From SeafoodNews on December 29, according to the Ecuadorian Exporters Federation (Fedexpor), from January to October this year, Ecuadorian shrimp exports were 6.
264 billion US dollars
.

Although exports for November and December have not yet been calculated, exports in the first 10 months of the year have already exceeded $5.
323 billion
for all of 2021.

Data from the Ecuadorian Aquaculture Association (CNA) show that compared to the first 10 months of 2021, Ecuadorian shrimp exports increased by 43% and exports increased by 32% (in pounds).

Ecuadorian shrimp exports were 1952720559 pounds during those 10 months, up 470.
9 million pounds from 1481782475 pounds in the same period in 2021, and exceeded the 1855634851 pounds exported for all of 2021, exceeding the volume by 97 million pounds
.

José Antonio Camposano, president of the Ecuadorian Aquaculture Association (CNA), said that although there is no official data on shrimp exports for November this year, it is expected to be the first month of export decline in 2022 and a similar situation is expected in December, with rising production costs and a collapse in prices in destination markets being the main reasons for the
situation.

Due to the epidemic and the Russian-Ukrainian conflict, the cost of soybeans for shrimp feed production has quadrupled so far in 2022, and the cost of cardboard has also increased, and in 2022 alone, the cost of cartons has also tripled
.

José Antonio Camposano believes that the situation in 2023 is also not optimistic, the increase in the unified base salary (SBU) will affect new labor costs, which may reach $450, which, together with other cost increases, such as the elimination of diesel subsidies in terms of market structure, will reduce the profit margin of almost $7 billion in a worrying way
.

The consumer market has seen a slowdown in sales over the past three months due to oversupply and inflation-hit markets, especially in Europe, where shrimp prices have plummeted
.

José Antonio Camposano noted that on average, $1.
65 per pound of shrimp produced costs $1.
50, or a profit of $0.
15
.
Today's price is $1.
34, or $0.
16 per pound produced, and other production costs are increasing
.

How will this affect 2023? Camposano believes that at least in the first quarter of next year, much demand will remain at very high levels in terms of cost structure, but prices are not expected to recover
.

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