Demand for shrimp in America is dropping at double-digit rates, according to a new report from Rabobank.

Ecuador, with a production increase of 18 percent for 2022, is pushing growth for the industry at a time when the American and European markets are showing rapidly contracting demand.

The consequence, according to Rabobank analyst Gorjan Nikolik, is that Asian suppliers are in trouble.

While Ecuador's major export market is China, many Asian producers are heavily exposed to the sluggish European and American markets -- 80 percent of Indonesian production goes to North America and 50 percent of Indian shrimp is destined for North American buyers.