Ecuador’s shrimp exports to China jumped by 27% month-on-month in November to 43,000 metric tons, providing some Christmas cheer for the country’s shrimp producers.
The hike lifted total exports for the month to 70,000t, according to data from Ecuador’s Camara Nacional de Acuacultura, or national chamber of aquaculture; the second-highest on record, and up 14% compared with November of 2019.
The second big month of exports – Ecuador exported 64,000t in October -- lifted shipments for the January-November period to 633,000t, up 8% year-on-year.
Amid the resurgence of exports to China, shipments to the US and Europe fell back towards more typical levels after surging this summer.
In November, Ecuador exported 12,500t and 9,200t of shrimp to Europe and the US respectively, down 26% and 6% month-on-month.
Ecuador’s rally in exports to China lifted the total share of exports to the country to 61% of the total, up from just 19% in July (see chart below). The slump in shipments to China last summer followed the discovery of packages of imported Ecuadorian shrimp contaminated with the coronavirus.
Prices still low
The rally in exports to China has not yet translated into higher prices.
In November, the average unit value of Ecuador's shrimp exports to China was just $5.11/kg (down 14% year-on-year), to Spain, $5.01/kg (-10% y-o-y), and to the US, $5.53/kg (-2% y-o-y) (see full table below).
The lower prices brought monthly export revenues to $368 million, up just 1% compared with November of 2019.
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Ecuador's frozen shrimp exports, Nov, 2020
| Volume (Metric tons) | Value ($m) | Average unit value ($/kg) | Change y-o-y (vol) | Change y-o-y (val) | Change y-o-y ($/kg) | |
|---|---|---|---|---|---|---|
| China | 43,013 | 220 | 5.11 | -6% | -19% | -14% |
| US | 9,207 | 51 | 5.53 | 80% | 77% | -2% |
| Spain | 3,182 | 16 | 5.01 | 12% | 1% | -10% |
| France | 2,594 | 15 | 5.62 | -2% | -15% | -14% |
| Italy | 2,024 | 11 | 5.33 | 30% | 17% | -10% |
| Russia | 1,901 | 9 | 4.62 | 1193% | 1045% | -11% |
| S Korea | 1,076 | 5 | 4.93 | 140% | 127% | -5% |
| Ukraine | 785 | 5 | 6.73 | 278% | 279% | 0% |
| Netherlands | 659 | 6 | 8.61 | 83% | 88% | 3% |
| Chile | 487 | 3 | 5.43 | 192% | 144% | -16% |
| Others | 5,528 | 31 | 5.52 | 146% | 111% | -14% |
| Total | 69,970 | 368 | 5.25 | 14% | 1% | -12% |
| Source: CNA | ||||||
Ecuador's frozen shrimp exports, Jan-Nov, 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 | 339,820 | 1,792 | 5.27 | 6% | -2% | -8% |
| US | 109,480 | 592 | 5.41 | 55% | 47% | -6% |
| Spain | 45,793 | 234 | 5.11 | 32% | 20% | -9% |
| France | 32,805 | 180 | 5.48 | 21% | 6% | -12% |
| Italy | 21,538 | 116 | 5.40 | -4% | -11% | -7% |
| Russia | 14,085 | 67 | 4.76 | 52% | 43% | -6% |
| S Korea | 9,482 | 49 | 5.20 | 11% | -3% | -13% |
| Netherlands | 6,898 | 55 | 8.00 | 118% | 116% | -1% |
| UK | 4,964 | 33 | 6.59 | 40% | 20% | -14% |
| Belgium | 4,598 | 36 | 7.94 | 89% | 82% | -3% |
| Others | 48,158 | 274 | 5.68 | -44% | -45% | -2% |
| Total | 633,021 | 3,392 | 5.36 | 8% | 0% | -7% |
| Source: CNA | ||||||
January 06, 2021 at 04:34PM
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Trade insights: Ecuador's November shrimp exports to China surge to 43000t - Undercurrent News
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