Print This Page

December 18, 2013

Ecuador

GSP Tax Break

 

The European Parliament has renewed its Generalized System of Preferences (GSP) on 249 Ecuadorian products—including shrimp—which means shrimp will continue to be able to enter the European Union market duty free until December 2014, amounting to an $8 million savings for Ecuador’s exporters.  In 2012, Ecuador exported $500 million worth of shrimp products to Europe, making it the leading exporter of shrimp to Europe.  Considering the rise in shrimp prices during 2013, caused by the early mortality (EMS) epidemic at shrimp farms in Asia, the value of Ecuador’s shrimp exports to Europe will probably be over $750 million in 2013.

 

Sources: 1. FIS United States.  GSP + Renewal Relieves Shrimp and Tuna Sectors.  Analia Murias (editorial@fis.com).  December 17, 2013.  2. Bob Rosenberry, Shrimp News International, December 18, 2013.

Print This Page