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The industry needs to work to create programs aimed at stimulating demand in main markets similar to those that have benefited the meat, chicken, avocado and mango sectors in the United States, CNA Executive Director Jose Antonio Camposano said. Photo: CNA

'It's a terrible blow': Shrimp price collapse costs Ecuador shrimp industry $1 billion in 2023

A collapse in shrimp prices comes with Ecuador's industry already squeezed by the removal of a diesel subsidy late last year and spiraling feed and security costs to combat the threat of organized crime.

4 October 2023 11:00 GMT Updated 4 October 2023 13:06 GMT

By John Evans

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.

Ecuador's Grupo Almar targets China, US, EU markets with new $40 million shrimp factory

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.

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