The collapse in international shrimp prices has cost the Ecuadorian industry more than $1 billion so far this year, according to the Camara Nacional de Acuacultura (CNA) shrimp producers trade body.

"If the volume exported in 2023 is transformed into average prices in 2022, there is billion dollars less that have entered Ecuador for shrimp exports. It's a terrible blow," CNA Executive Director Jose Antonio Camposano told IntraFish.

In July, Rabobank analyst Gorjan Nikolik said the sector is facing pressure to contract, with roughly 80 percent of the global shrimp industry selling below cost.