Ecuador's shrimp producers are forking out 24 percent more in overall costs since 2021, shrimp producers' trade body Camara Nacional de Aquacultura (CNA) said in an update.

The main three factors piling on the pressure are the removal of a government diesel subsidy, spiraling raw material costs and the high costs of security as producers try to combat a surge in organized crime.

In December, Ecuador's government, led by Guillermo Lasso, ended a diesel subsidy targeted at shrimp farms with more than 30 productive hectares, sparking outrage among the country's larger producers who calculate this adds $0.16