In April and May, Ecuador reversed the stagnation seen earlier in the year and reached record levels in shrimp exports, The Fish reported on July 16.
“A few months ago we predicted that Ecuadorian shrimp exports would be lower than in 2023. Now we expect growth of up to 5%, mainly thanks to the West.”said Rabobank analyst Gorzhan Nikolik.
“Competition in the West will intensify, as India is also focusing on exports to the West and has increased shipments by 3.7% since April. The only producer cutting supply is Indonesia, where prices fell by 17%.”“, the expert added.
The United States, after hitting a 20-year low in 2023, expects shrimp demand to rise 1% to 3% this year, although with the caveat that growth will be slow and short-lived. “Companies were buying additional volumes to replenish inventories and try to avoid anticipated countervailing and antidumping duties in the United States.”he explains.
“The West is coming out of a period of falling disposable income. China is a more complex market. My colleagues in China report that demand is growing, but domestic producers have increased supply, so we should not expect an increase in imports.”Nikolik noted.
Source: Rossa Primavera
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