Shrimp processing plant. (Photo: Stock File)

Shrimp sector will exceed 2017 exports, but for a similar value

ECUADOR
Friday, October 19, 2018, 22:10 (GMT + 9)

The fall in shrimp price in the international market, together with a lower participation of Ecuador in imports from the United States, will have a negative impact on this year's results for the Ecuadorian shrimp sector.

According to José Antonio Camposano, National Chamber of Aquaculture (CNA) president, Ecuador will export between 1,150 and 1,200 million pounds of shrimp this year, a volume that represents an increase of close to 20 per cent compared to the 940 million pounds sold in 2017.

But this growth will not be reflected in the profits: it is estimated that these sales abroad will represent USD 3,000 million in revenues, a value similar to last year.

"Today the shrimp sector experiences the lowest prices of the last five years, if not more, and this is due to several external factors," the leader told El Telégrafo.

Camposano cited the causes of the sharp contraction in international prices of shrimp increased production in several countries and said that all this will mean that domestic producers stop receiving about USD 400 million.

CNA president mentioned in particular the case of India, which thanks to the increase of its production of this crustacean has displaced Ecuador from the United States market, causing the Ecuadorian participation to decrease from 33 per cent to 9 per cent.

The situation of falling prices will also affect the expansion plans of some producers, Camposano added.

He also noted that security is today the main challenge of the shrimp sector, for those who hold meetings with Interior Minister María Paula Romo, and police chiefs to achieve the dismantling of bands and criminal groups that attack the farms.

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