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More than half of Ecuador's shrimp companies have business with China, and about 90% of the total production products are exported to China
.
Bilateral trade, which had been going well until March this year, appears to have taken a dip since the coronavirus was discovered on the packaging of Ecuadorian exports, and the near-term outlook doesn't seem so rosy
.
.
Last year, Ecuadorian white shrimp exports to China accounted for 46 percent of total exports
.
In the first two months of this year, Ecuador's exports to China were 810,000 tons, a year-on-year increase of 28.
6%
.
Exports surged 86.
4% in February, with Ecuadorian shrimp accounting for 80.
4% of China's warm-water shrimp imports for the month
.
.
In the first two months of this year, Ecuador's exports to China were 810,000 tons, a year-on-year increase of 28.
6%
.
Exports surged 86.
4% in February, with Ecuadorian shrimp accounting for 80.
4% of China's warm-water shrimp imports for the month
.
In February this year, Ecuador and China actively promoted a bilateral free trade agreement
.
.
However, as of the end of March this year, 74 products were found to be faulty, including 51 batches of white shrimp products
.
.
A total of 19 aquatic products companies in Ecuador have been temporarily restricted from entering China for a period ranging from 1 week to 74 weeks, which means that before August this year, Ecuadorian shrimp products will not be able to "normally" enter the Chinese market
.
.
This is a huge blow for Ecuadorian exporters, both those restricted and those who are now anxious about the uncertainty of the future
.
.
In April, white shrimp packaging from four Ecuadorian companies was again found to contain the virus
.
.
Since the "risk" of exporting to China is much higher than before, some processing plants require full payment before shipment, while in the past they could pay part of the advance payment, which in turn increased the cost for Chinese buyers, and both parties may It will take longer to agree on a payment method
.
.
Affected by the epidemic, Ecuadorian white shrimp may encounter more challenges on the way to China
.
The outlook seems less rosy for Ecuadorian exporters and Chinese importers, who face not only higher costs but also a higher probability of returns
.
.
The outlook seems less rosy for Ecuadorian exporters and Chinese importers, who face not only higher costs but also a higher probability of returns
.
