Ecuadorian shrimp prices soar, approaching Asia! The global shrimp market is experiencing a wave of price increases!

In the 36th week (September 2nd to 8th), the price of South American white shrimp delivered from farms in Ecuador significantly increased by 4-7%, ultimately equaling the price in the Asian market. This change is due to the impact of supply shortages in Asia, which has led to a general increase in global shrimp prices.

The prices of Ecuadorian prawns of different specifications have all increased, with the price of 30-40 prawns rising by 7% month on month, reaching $3.75/kg. The price of 40-50 shrimp increased by 6% month on month to $3.5 per kilogram; The price of 50-60 shrimp has increased month on month to $3.3 per kilogram; The price of 60-70 shrimp has increased month on month to $3 per kilogram; The price of 70-80 shrimp has increased month on month to $2.6 per kilogram.

Sandro Coritore, CEO of Omarosa, the second largest exporter in Latin America, pointed out in an interview that major shrimp producing countries such as India, Vietnam, and Thailand are all facing supply shortages, coupled with rising interest rates and warehousing costs, leading to tight global shrimp finished product inventories. He predicted that after the Shanghai World Seafood Exhibition, shrimp prices will further rise, becoming an irreversible trend in the market.

Despite a significant increase in shrimp prices in Ecuador, it remains competitive compared to shrimp prices in Asian countries such as Indonesia and Thailand. The farm delivery price in East Java Province, Indonesia is as high as $4.27 per kilogram, far exceeding that of Ecuador. Thailand and Vietnam also rank second and third in shrimp prices, at $4.19 per kilogram and $3.98 per kilogram, respectively.

The price of shrimp in Andhra Pradesh, India has remained stable at $3.75-3.81 per kilogram, but the overall trend in the global market suggests that prices may continue to rise in the future. Industry experts generally believe that due to the impact of supply and demand, manufacturers in various countries, including Ecuador, will face pressure to raise prices to ensure stable market supply.