How does the fall in shrimp prices in Asia affect Ecuador? – La Nación

2024-09-19 23:30:19

Shrimp prices in Asia have fallen significantly, affecting China, Vietnam, and Indonesia, while in Ecuador prices remain stable despite oversupply.

During the third week of June 2024, the shrimp market in Asia experienced significant fluctuations in its pricessetting trends in China, Vietnam, Indonesia, India and ThailandThese changes have important implications for the global shrimp trade, including Ecuadorthe world’s largest exporter.

This is how the price of shrimp fluctuated in Asia and Ecuador

In ChinaAsia’s largest producer and consumer of shrimp, prices fell sharply due to a increase in production.

Prices for live shrimp in some parts of China reached historically low levelswhich has reduced producers’ profits, Undercurrent News notes. This low-price trend poses a considerable challenge for the Asian country’s shrimp industry.

In contrast, in EcuadorShrimp prices have remained stable, although fish farmers face problems due to oversupply and have had to reduce sales prices significantly.

Shrimp in South Asia

In the IndiaPrices are also low, but supply is improving because there are more shrimp available on the market.

Also, in Indonesia and Vietnamprices continue to fall due to several factors such as new anti-dumping taxes and logistical problems, including increased freight rates and a lack of containers. This led to a reduction in shrimp purchases in Vietnam, while in Indonesia, prices have fallen for different sizes of shrimp.

While in Thailand, prices have remained stable, demand remains low compared to other countries, showing tough competition in the Asian shrimp market.

In summary, changes in shrimp prices in Asia are due to seasonal factors, supply and demand, and specific problems in each country. For Ecuador, these movements in the Asian market highlight the importance of closely following global trends and adapting its strategies to maintain its leadership position in shrimp exports.