The slow pace of market demand in the US last year compounded with the indecision on US countervailing and antidumping duties are cited as the main reasons for the slump in Ecuadorian shrimp exports this year.

Last year, Ecuadorian shrimp producers set a new export record of 2.68 billion pounds, a 14.5 percent increase over the previous 12 months.

According to the Ecuadorian shrimp producers’ trade association Camara Nacional de Aquaculture (CNA) Ecuador’s monthly shrimp exports fell 14 percent in March compared to the previous year to 202 million pounds.

Ecuador’s shrimp exports have fallen continuously for three times in a row which is seen as a major setback over the past decade for the South American nation’s shrimp farmers, packers and processors who have been part of the shrimp industry who have witnessed a successful upward trend in the industry growth.

The low prices have prolonged over a long period since 2022 which has also pushed companies along the Ecuadorian value chain to cut back on their production

China, the Asian Powerhouse nation remains by far Ecuador’s largest export market, however shipments slumped nearly 42 percent to 91.2 million pounds last month.