Ecuador's shrimp exports drop sharply in September, threatening decade of growth

Ecuador's global shrimp exports fell 11 percent in September, jeopardizing a decade-long run of annual export growth for the world's largest farmed shrimp producing nation.

Ecuador's shrimp exports have steadily increased from 474 million pounds in 2013 to 2.7 billion pounds in 2023.

However, shrimp exports through the first nine months of 2024 were just 0.1 percent ahead of the same point last year at 2.01 billion pounds.

September exports came in at just under 210 million pounds, down from 237 million pounds in the same of month of 2023, latest numbers from Ecuadorian shrimp producers' trade association Camara Nacional de Aquacultura (CNA) show.

The decline in September shipments was highlighted by an 18 percent decrease in exports to China, totaling 112.7 million pounds.

It is the fifth time this year that monthly exports to China have fallen. Prior to this, with only a few rare exceptions, monthly exports to the Asian powerhouse nation had been on an continuous upward growth trajectory for years.

In the first nine months of 2024, exports to China fell 10 percent to 1.08 billion pounds.

Demand in China has been weaker in the wake of an economic slowdown since the second half of last year, making the job more challenging for shrimp exporting nations, particularly Ecuador.

Exports to the United States, another important market, dropped 30.5 percent to 31.3 million pounds in September. However, year-to-date shipments through September remain over 8 percent higher than the same period last year.

Shipments to Europe rose 21.7 percent in September to 48.2 million pounds, helped by a sharp increases orders from Spain, France, Italy and Russia.

CNA has so far not commented on September numbers.