Shrimp production in 2022 to be led by Latin America producers
Shrimp production is expected to grow in 2022 in Latin America, led by Ecuador and Mexico.
Shrimp production is one of the most prominent sectors of global aquaculture. In Latin America, production figures for 2021 were positive, therefore a better performance is expected for 2022. Thus, producers in Mexico and Ecuador would have great possibilities to increase their exports and lead the world market.
Ecuadorian shrimp producers seek to become a world leader
Ecuador’s shrimp producers have increased their volume of product astonishingly in the last decade, where 145,000 metric tons were produced in 2010, subsequently reaching 675,000 metric tons in 2020. Thus, these figures represented an increase of 400%. As a result, producers in Ecuador increased shrimp exports to the United States in 2021. In fact, between April and May 2021, shrimp exports had a value of USD 834 million, by mobilizing a volume of 155,000 metric tons of products.
Ecuadorian shrimp producers were able to export to the United States increased by 350%, to France by 200%, and to Spain by 70%. By April 2021, the export figure was close to 240,000 metric tons. Likewise, it is expected that by 2022 shrimp exports from Ecuador to China will recover significantly, after some restrictions on the movement of this product to Asia. Meanwhile, Ecuadorian producers took advantage of the situation to move shrimp to the European Union market, increasing exports to that continent by 27%.
Producers in Ecuador have played an important economic role in the commercialization of shrimp since India, Vietnam, and China have reduced their exports. Thus, Latin America is emerging as a world leader in shrimp production.
It is estimated that in 2021 the shrimp aquaculture activity will generate USD 5 billion in exports only, i.e., 34% more than in 2020, mobilizing close to 1 million tons.
Mexico producers’ leaders in aquaculture
Mexico is another Latin American country that is currently considered the second-largest shrimp producer in the region. In parallel to the growth of the sector in Ecuador, producers in Mexico are also looking for opportunities in the global shrimp market by 2022.
In the last five years, producers in Mexico have gone from producing 160,000 metric tons to 180,000 metric tons. In this way, the country’s shrimp producers expect to grow between 8 and 10%. In addition, Mexico expects to increase its domestic shrimp production to reduce its imports, especially in the first half of each year. During this period, Mexico usually imports around 40,000 metric tons of shrimp to meet its domestic demand.
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On the other hand, among the export plans of Mexican shrimp producers is the United States as the main destination, taking advantage of its geographic and commercial proximity.
Finally, the aquaculture production sectors of Ecuador and Mexico are seeking improvements in nutrition, handling, health, and welfare. In this way, they will be able to consolidate their position as solid leaders in shrimp production worldwide by 2022.