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December 15, 2015

Ecuador

Exports to Asia Soar

 

Through October 2015, Ecuador’s shrimp exports to all Asian markets were 278 million pounds, up 110 million pounds, compared to same period in 2014—a 65 percent increase!  Ecuador’s sales to Asia, mostly China, represented 42.5 percent of its overall exports. The European Union and the United States accounted for 30 and 23.7 percent of Ecuador’s shrimp exports, respectively.

 

China pays a premium for Ecuadorian head-on shrimp, making it difficult for other regions, like the USA and the EU, to purchase its shrimp at lower prices.  China orders get filled first, and the USA gets what’s left over.  The EU also purchases head-on shrimp from Ecuador, but its demand is weak due to unfavorable economic conditions.

 

With higher minimum wages now being paid to processing plant workers in Ecuador, the Chinese head-on market is very desirable because it requires less processing time.  China reprocesses some of its Ecuadorian imports.  Also Ecuador’s tends to produce smaller shrimp that command a higher market price in China than in the USA.

 

Source: Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  Ecuadorian Shrimp Sales to Asia Up Sharply on China Demand.  Michael Ramsingh (phone 1-732-240-5330, email michaelramsingh@seafood.com).  December 14, 2015.

 

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