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Eritrean shrimp export prices hit record low in November

In November 2023, Ecuador’s frozen shrimp export prices fell to a record low.

According to data from the Ecuador Chamber of Aquaculture (CNA), Ecuador exported 97,995 tons of frozen shrimp in November, a year-on-year increase of 15%, with a value of US$471.7 million, a year-on-year decrease of 5%.

The average export price dropped from $5.05/kg in October to $4.81/kg in November, a year-on-year decrease of 17%, hitting the lowest value since 2011.

In November, Ecuador exported 56,346 tons of shrimp products to China, a year-on-year increase of 18%, and the export value was approximately US$250 million, a year-on-year decrease of 8%.

Exports to the EU ranked second, with a volume of 17,939 tons, a year-on-year increase of 20%, and a value of US$88.3 million, a year-on-year increase of 4%. Sales increased significantly in Spain, Italy, the Netherlands and Portugal, while sales declined in France, Belgium and the United Kingdom.

Ecuador exported 16,509 tons of frozen shrimp to the United States in November, worth $96.2 million.

Calculated based on the prices of various exporting countries, the average price in China was $4.44/kg, down 22% year-on-year; the US price was $5.83/kg, down 7%; the EU price was $4.60/kg, down 16% year-on-year.

In the first 11 months, Ecuador's export volume reached 1.11 million tons, a year-on-year increase of 14%, and the export value was US$5.8 billion, a year-on-year decrease of 6%.

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