Shrimp Price in Ecuador - 2022
Contents:
- Shrimp Price in Ecuador (FOB) - 2022
- Shrimp Price in Ecuador (CIF) - 2022
- Shrimp Exports in Ecuador
- Shrimp Imports in Ecuador
Shrimp Price in Ecuador (FOB) - 2022
In January 2022, the average shrimp export price amounted to $7,387 per ton, picking up by 9.4% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably for the major foreign markets. In January 2022, the countries with the highest prices were the United States ($7,706 per ton) and China ($7,461 per ton), while the average price for exports to Spain ($6,500 per ton) and Russia ($6,635 per ton) were amongst the lowest.
From January 2021 to January 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Price in Ecuador (CIF) - 2022
In 2022, the average shrimp import price amounted to $6,937 per ton, leveling off at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 50% against the previous year. As a result, import price attained the peak level of $9,619 per ton. From 2017 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($11,305 per ton), while the price for Spain ($4,964 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Shrimp Exports in Ecuador
For the fourth consecutive year, Ecuador recorded growth in overseas shipments of shrimps, which increased by 0.6% to 860K tons in 2022. The total export volume increased at an average annual rate of +9.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.
In value terms, shrimp exports totaled $5.4B in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +11.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +40.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 40% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Shrimp in Ecuador (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2,085 | 1,893 | 2,291 | 2,262 | 2.8% |
| United States | 537 | 785 | 1,371 | 1,354 | 36.1% |
| Spain | 222 | 246 | 340 | 336 | 14.8% |
| France | 189 | 188 | 288 | 284 | 14.5% |
| Italy | 176 | 159 | 188 | 185 | 1.7% |
| Russia | 50.5 | 78.2 | 142 | 140 | 40.5% |
| Vietnam | 325 | 31.4 | 36.6 | 127 | -26.9% |
| South Korea | 59.8 | 55.0 | 81.4 | 80.3 | 10.3% |
| Others | 275 | 422 | 647 | 645 | 32.9% |
| Total | 3,919 | 3,857 | 5,383 | 5,414 | 11.4% |
Top Export Markets for Shrimp from Ecuador in 2022:
- China (384.8K tons)
- United States (187.3K tons)
- Spain (55.3K tons)
- France (44.8K tons)
- Italy (26.8K tons)
- Russia (24.6K tons)
- Vietnam (23.4K tons)
- South Korea (13.5K tons)
Shrimp Imports in Ecuador
In 2022, the amount of shrimps imported into Ecuador amounted to 88 tons, approximately reflecting 2021 figures. Over the period under review, imports, however, saw a dramatic descent. The most prominent rate of growth was recorded in 2020 with an increase of 137% against the previous year. As a result, imports reached the peak of 860 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, shrimp imports reached $609K in 2022. Overall, imports, however, showed a dramatic descent. The pace of growth was the most pronounced in 2020 when imports increased by 124% against the previous year. As a result, imports attained the peak of $4.8M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Shrimp in Ecuador (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 1,025 | 1,506 | 98.5 | 285 | -34.7% |
| United States | 400 | 143 | 186 | 160 | -26.3% |
| Spain | 279 | 529 | 138 | 121 | -24.3% |
| United Kingdom | 64.1 | 135 | 49.3 | 42.5 | -12.8% |
| Hong Kong SAR | N/A | 318 | N/A | N/A | 0% |
| South Korea | N/A | 113 | N/A | N/A | 0% |
| Belgium | 228 | N/A | 4.4 | N/A | -86.1% |
| China | N/A | 1,709 | N/A | N/A | 0% |
| Others | 170 | 393 | 130 | N/A | -12.6% |
| Total | 2,166 | 4,845 | 606 | 609 | -34.5% |
Top Suppliers of Shrimp to Ecuador in 2022:
- France (44.8 tons)
- Spain (24.4 tons)
- United States (14.8 tons)
- United Kingdom (3.8 tons)
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