Seafood Source released a report on May 23 stating that Ecuadorian shrimp exports were significantly affected in March.

Although exports to markets such as the United States and the European Union have increased, overall export volumes and earnings have shown a downward trend due to a sharp 50% drop in exports to China.

Specific data shows that Ecuadorian shrimp exports totaled 202.5 million pounds in March, valued at US$460 million, a decrease of 14.3% and 22% respectively compared with the same period last year. Among them, exports to China dropped sharply, from 157 million pounds last year to 91.2 million pounds, a drop of as much as 41.9%.

At the same time, exports to China also dropped significantly, from US$379 million to US$186 million, a year-on-year decrease of 50.8%.

In other markets, however, the situation for Ecuadorian shrimp exports is different.

Exports to the United States increased significantly, jumping from 32.9 million pounds in the same period last year to 56.3 million pounds, a year-on-year increase of 70.8%, and the export value also increased by 58.6% correspondingly, reaching 150 million US dollars.

Export volume and export value to the EU also increased by 32.7% and 15.8% respectively, with export volume reaching 40.2 million pounds and export value of US$89.3 million.

In March, the three major markets of the United States, the European Union and China purchased more than 90% of Ecuador's shrimp products. Among them, China's market share dropped sharply from 45.1% last year to 45.1% in March, a decrease of 66.4%.

The market shares of the United States and the European Union have increased, with the United States' share increasing from 13.9% to 27.8%, and the EU's share increasing from 12.8% to 19.8%.

Analysis pointed out that the main reason for Ecuador's poor shrimp export earnings is the decline in shrimp prices. Although the average price increased slightly this year from $2.19 in January to $2.27 in March, the average price has remained at a lower level since March 2010.