Members’ Trade Data Analysis: Ecuador March 2020 SummaryApril 29, 2020
Ecuador’s trade data has come in and, despite the COVID-19 pandemic quickly spreading in Ecuador over the previous months, March 2020’s trade has only shown a minor drop in shrimp exports. The latest data shows that Ecuador exported a total of 52,531 tonnes in March 2020, only 2% lower than exports in March 2019 (53,404 tonnes). Volumes traded in February 2020, however, were 32% higher (up by 23,983 tonnes) than February 2019.
During the first weeks of March, local sources reported that the trade seemed to be picking up again as the Chinese market started to show signs of recovery and Ecuadorian exporters were sending more containers that way. At the same time, the COVID-19 situation in Ecuador continued to worsen as the pandemic struck at the heart of its shrimp industry, Guayas, and other target markets started to falter as Europe and the US were hit by the pandemic.
Currently, though the processors have started to pick up as the workforce begins their return, our Farm Gate Price Portal is seeing low prices in Ecuador and local sources say farmers hold harvesting to wait for better prices. The question remains, will Ecuador be able to increase its production capacity in time to feed growing Chinese demand or could this provide an opportunity for other producing countries to step in?
Members can find the full Ecuador Trade Data Analysis for March 2020 in their library. Not a member yet? Get in contact at [email protected] or get a (trial) membership, through https://seafood-tip.com/become-a-member/ to start receiving unbiased and actionable analysis of the current state of the industry. With the facts and figures we gather and our network of industry experts, we keep our members up-to-date with the rapidly fluctuating prices and import/export trends between major shrimp and seafood markets.
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