Ecuador Shrimp Sector Now Confronted with Multiple Challenges After Years of Strong Growth [Part 1]
The export value of farmed Ecuadorian shrimp contracted by $364 million (-5.5%) year-on-year (y-o-y) in 2023 to $6.29 million, according to Ecuador’s National Chamber of Aquaculture (CNA). This contrasts markedly with $3.0 billion (+84.2%) in estimated revenue growth recorded from 2020-22. Weak market prices, alongside high input costs, have weighed heavily on sales margins. CNA estimates that the Ecuadorian shrimp market lost $1.5 billion in profits y-o-y in 2023.
Supply factors have become...
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