The appreciation of the dollar against other currencies has had a serious impact on seafood trade. Since the beginning of this year, the euro has depreciated by 15%, and the renminbi has depreciated by 10%. The pressure on the two major import markets of the EU and China has intensified, which in turn has accelerated the decline in prices in exporting countries.
Taking Ecuadorian white shrimp as an example, the price of raw materials has shown a downward trend recently. In the 43rd week (October 24-30), the price of large-scale HOSO (with heads and shells) dropped by $0.10/kg-$0.20/kg compared with last week, and the price of small-scale HOSO dropped by $0.10/kg. The specific quotation is as follows: 20/30 (per kilogram) is priced at $5.40/kg, 30/40 is priced at $4.40/kg, 40/50 is priced at $4.00/kg, 50/60 is priced at $3.60/kg, 60/70 is priced at $3.60/kg $3.20/kg, 70/80 at $3.00/kg, 80/100 at $2.90/kg, 100/120 at $2.10/kg, 120/140 at $2.00/kg.
Diomar Gonzalez, CEO of Ecuador processor Procamaronex, told UCN: "Due to the weak sales volume, the export price has also dropped. We expect the price to remain at the current level from the end of this year to the Chinese New Year next year."
"But on the other hand, the supply of Ecuadorian white shrimp is increasing. Our products have strong demand. We hope that the price will rebound next year. Our country can achieve a stable increase in production, and businesses can continue to develop new products and maintain their status as important players in the industry. "Gonzalez expects that by the end of 2022, the production of Procamaronex shrimp will increase by 75% from last year (18,000 tons) to 32,000 tons.
Gonzalez said that the company's farms are undergoing ASC (Ocean Stewardship Council) audits and are expected to be certified in December. "We are also committed to applying for BAP (Best Aquaculture Practice) three-star certification to increase sales in the United States and the European Union."
65% of Procamaronex shrimp products are exported to China, 25% to the United States, and the remaining 10% to Europe. "In addition, we started building an ice factory and our own logistics center to provide year-round quality assurance for our products," Gonzalez said.