Norway became the largest seafood exporter in 2022, but Ecuador’s production growth rate is such that it could overtake the leader by 2030. Rabobamk expert Goryan Nikolik’s opinion was published on March 22. by SeafoodSource online publication.
In 2012, China was the world’s largest seafood exporter. Norway, Thailand and Chile followed. China continued to lead in 2017, followed by Norway, India, Chile and Ecuador. In 2022, Chinese seafood exports grew by 1.8%, while imports increased by 10%. China has become a net importer. In ten years, Ecuador has gone from ninth to second place.
“The whole world has changed in just a couple of years. Norway came out on top, but I wonder if by 2030 Ecuador, with its shrimp and increasing volumes, can become the first. He has a long way to go to catch up, but he has very good room to grow.”Nicole said.
Norway focuses on salmon farming. Ecuador has focused on shrimp production. According to Nikolik, what they have in common is that they are small countries with a small internal market and an ideal climate for the cultivated species.
Ecuador’s exports began with the supply of shrimp to the US and the EU. Recently, it has shifted its focus to China. About 60% of shrimp exports come from China. In the last two years, shrimp exports have doubled from $3 billion (230 billion rubles) to more than $6 billion (460 billion rubles).
“This is really impressive growth. And that is not all, because the country does not use all its productive capacity”Nicole said.
“I am not surprised that Norway, Vietnam, Ecuador, Chile or India are big exporters. These are single countries with relatively small domestic markets. Therefore, they are natural exporters. China is not a natural exporter. It stays on top through a combination of government policies and aquaculture skills. China is changing. It joined the ranks of the major economies. As for the future, the population is aging and the country is becoming more dependent on imports.”Nicole said.
Nikolik said that shrimp and salmon were the leaders in the global trade in seafood. Over the past two years, both destinations have made “fantastic progress” with sales exceeding $25 billion (1.9 trillion rubles) each, and have recovered well from coronavirus restrictions.
The two species could overtake poultry and pig sales, Nikolik concluded.
Source: Rossa Primavera
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