Ecuador’s October shrimp exports surged to the second-highest month on record while prices continue to sag amid recent lows.
According to data from Ecuador’s Camara Nacional de Acuacultura, or national chamber of aquaculture, exports hit 64,300 metric tons, the highest monthly volume since May of this year, and the second-highest monthly exports on record. Exports were up 21% compared with October of last year.
Shipments of shrimp to China, Ecuador’s biggest market, drove the surge, increasing 57% compared with September. To Europe, shipments grew 3% month-on-month to 17,000t, while exports to the US fell 16% month-on-month to 9,800t.
Large supply in the global market continues to depress prices; shipments of shrimp to China were valued at $5.14 per kilogram on average for the month, down 11% compared with October of last year, while shipments to Spain, Ecuador's biggest market in Europe, were worth just $4.93/kg, also down 11% y-o-y.
Exports to the US remained unchanged in value ($5.30/kg) because a higher share of shrimp now undergoes some basic value-added processing, like de-heading and de-veining, before shipment.
The greater volume of shipments lifted export earnings by 10% year-on-year for the month to $337 million.
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Ecuador's shrimp exports, Oct, 2020
| Volume (Metric tons) | Value ($m) | Average unit value ($/kg) | Change y-o-y (vol) | Change y-o-y (val) | Change y-o-y ($/kg) | |
|---|---|---|---|---|---|---|
| China | 33,886 | 174 | 5.14 | -2% | -12% | -11% |
| US | 9,844 | 53 | 5.40 | 73% | 74% | 0% |
| Spain | 5,190 | 26 | 4.93 | 29% | 15% | -11% |
| Italy | 3,373 | 18 | 5.33 | 75% | 57% | -10% |
| France | 3,009 | 17 | 5.67 | 15% | 5% | -8% |
| Russia | 2,268 | 10 | 4.38 | 110% | 80% | -14% |
| Netherlands | 905 | 7 | 7.97 | 308% | 247% | -15% |
| UK | 616 | 4 | 6.55 | 105% | 64% | -20% |
| Greece | 510 | 3 | 5.15 | 668% | 562% | -14% |
| Chile | 390 | 2 | 5.55 | 71% | 51% | -12% |
| Others | 4,286 | 0 | 5.23 | 80% | 62% | -9% |
| Total | 64,276 | 337 | 5.25 | 21% | 10% | -9% |
| Source: CNA | ||||||
Ecuador's shrimp exports, Jan-Oct, 2020
| Volume (Metric tons) | Value ($m) | Average unit value ($/kg) | Change y-o-y (vol) | Change y-o-y (val) | Change y-o-y ($/kg) | |
|---|---|---|---|---|---|---|
| China | 296,807 | 1,572 | 5.3 | 8% | 1% | -6% |
| US | 100,273 | 541 | 5.4 | 53% | 44% | -6% |
| Spain | 42,610 | 218 | 5.12 | 33% | 22% | -9% |
| France | 30,212 | 165 | 5.46 | 23% | 8% | -12% |
| Italy | 19,513 | 106 | 5.41 | -6% | -13% | -7% |
| Russia | 12,184 | 58 | 4.78 | 34% | 26% | -6% |
| S Korea | 8,406 | 44 | 5.24 | 4% | -9% | -13% |
| Netherlands | 6,239 | 50 | 7.93 | 123% | 119% | -2% |
| Belgium | 4,257 | 34 | 7.92 | 84% | 81% | -2% |
| UK | 4,178 | 27 | 6.56 | 25% | 6% | -15% |
| Others | 38,373 | 209 | 5.46 | -53% | -55% | -4% |
| Total | 563,052 | 3,024 | 5.37 | 7% | 0% | -6% |
| Source: CNA | ||||||
November 19, 2020 at 01:09AM
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Trade insights: Ecuador's October shrimp exports surge at low prices - Undercurrent News
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