Strong US import demand for shrimp over the past five years, combined with a drop in Asian shrimp production due to the outbreak of early mortality syndrome (EMS), has facilitated Ecuador’s export growth.
Although production volume will increase, prices will suffer throughout 2015 as Asian producers (i.e., Thailand and China) once again return to the export market in larger volume.
Ecuador’s CY 2014 shrimp exports reached roughly 299,000 MT (approximately $2.6 billion). Shrimp exports to the United States in CY 2014 came in at about 88,859 MT (a record $901 million).
Shipments to the European Union (EU), which absorbs over a third of Ecuador’s yearly shrimp exports, hit 93,271 MT. FAS Quito estimates CY 2015 exports at 308,000 MT.
FAS Quito understands that Ecuador’s shrimp industry utilizes approximately 57,900 MT of US-origin soybean meal. It also uses about 132,940 MT of US-origin wheat as a feed ingredient.
US exports of soybean meal and wheat to Ecuador reached $176 million and $80 million (record high) respectively in 2014.