A combination of supply growth in Ecuador and weakening global demand is fueling an ongoing price collapse in the global shrimp industry, with roughly 80 percent of the sector now selling product at below cost, Gorjan Nikolik, senior global seafood specialist at Rabobank, told IntraFish.

And things are probably going to get worse before they get better, he said.

The Asian shrimp industry in particular is facing a challenging period of record-low prices, said Nikolik. "Persistently low prices and high costs have made shrimp farming unprofitable."