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cost pressures.
In a media interview before Christmas, Jose Antonio Camposano, president of the Ecuadorian white shrimp association Camara Nacional de Aquacultura (CNA), said that export growth in 2023 will be below double digits
after two consecutive years of growth of more than 20%.
Much will depend on how prices and production cycles proceed
in the first quarter of 2023.
"If market conditions stay the same in the first quarter or the first half of the year, [it] will definitely be below double digits
.
"
after two consecutive years of growth of more than 20%.
Much will depend on how prices and production cycles proceed
in the first quarter of 2023.
"If market conditions stay the same in the first quarter or the first half of the year, [it] will definitely be below double digits
.
"
Ecuador exports about 99% of the shrimp it produces, with shrimp exports rising 24% to 840,000 mt in 2021 and shipments up 28% to 950,000 mt in the first 11 months of 2022
.
.
According to CNA, China is the largest export destination for Ecuadorian white shrimp, exporting about 390,000 tons to China in 2021 to US$2.
3 billion, and about 538,000 tons to US$
3.
3 billion in the first 11 months of 2022.
In the first 11 months of 2022, the Chinese market accounted for 55%
of Ecuador's export market share in terms of export volume.
3 billion, and about 538,000 tons to US$
3.
3 billion in the first 11 months of 2022.
In the first 11 months of 2022, the Chinese market accounted for 55%
of Ecuador's export market share in terms of export volume.
With December data still being collected, Ecuador's exports in 2022 could eventually reach 1.
06 million mt (at the current rate).
Camposano said it is difficult to make predictions
due to the 90-day production cycle of Ecuadorian industry.
06 million mt (at the current rate).
Camposano said it is difficult to make predictions
due to the 90-day production cycle of Ecuadorian industry.
When Camposano started working for the association 12 years ago, Ecuador had two and a half production cycles a year, which has now climbed to about three and a half production cycles
.
.
2022 presents persistent, new and unexpected challenges, such as the ongoing coronavirus pandemic, the war between Russia and Ukraine, and most markets are still struggling to regain their footing
.
And before the end of the year, Ecuador's shrimp industry was angry over unexpected cuts in diesel subsidies, which they said threatened producers
.
Camposano said the decision to remove controls on diesel fuel prices would increase production costs by about $0.
16 (€0.
15) per pound, putting already vulnerable producers at risk
in the current low price situation.
.
And before the end of the year, Ecuador's shrimp industry was angry over unexpected cuts in diesel subsidies, which they said threatened producers
.
Camposano said the decision to remove controls on diesel fuel prices would increase production costs by about $0.
16 (€0.
15) per pound, putting already vulnerable producers at risk
in the current low price situation.
At present, the Chinese market after the epidemic will continue to recover in 2023, and perhaps the sales pattern of the Chinese market will gradually change in 2023, because the new market sales form is now more and more demand
for salted frozen large-size shrimp.
This change may have an impact on previous factories focused on frozen shrimp, and the rapid growth of demand for large-format shrimp in the Chinese market may also force the cultivation of white shrimp in Ecuador
.
for salted frozen large-size shrimp.
This change may have an impact on previous factories focused on frozen shrimp, and the rapid growth of demand for large-format shrimp in the Chinese market may also force the cultivation of white shrimp in Ecuador
.
Rabobank analysts Novel Sharma and Gorjan Nikolik said in their outlook for 2023 that global farmed shrimp production is likely to exceed 6 million tonnes
in 2023.
In the new year, Ecuadorian white shrimp production is expected to continue to increase, reaching more than 1.
35 million tons, driving the total shrimp production in the Americas to more than 2 million tons
.
in 2023.
In the new year, Ecuadorian white shrimp production is expected to continue to increase, reaching more than 1.
35 million tons, driving the total shrimp production in the Americas to more than 2 million tons
.
In any case, Ecuador's exports will continue to grow in 2023, but the rate of growth will decline
.
The increase in production in major global producing regions will generate more competition, and the continued recovery of the Chinese market after the epidemic will have a huge impact
on imports.
.
The increase in production in major global producing regions will generate more competition, and the continued recovery of the Chinese market after the epidemic will have a huge impact
on imports.
