Shrimp production will close in 2021 with positive figures for the aquaculture sector in Latin American countries.

Shrimp production shows astonishing figures worldwide. It is considered one of the most exported non-oil products in the international market. It is reported that shrimp export figures are the highest in the last five years.

The main destination for shrimp is China, where 45% of world production arrives, followed by the United States, Spain, Italy, and France.

Latin American countries play an important role in the shrimp market. In Ecuador, the world’s leading producer of farmed shrimp, 155 million pounds of shrimp were exported during October, which meant an increase of 9.4% over the same month in 2020 and 75% over 2017. These figures demonstrate the growth of shrimp market in Ecuador, generating close to USD 485 million in revenue. So far in 2021, shrimp production has generated USD 3957 million in revenue for Ecuador. Twenty-two percent of production goes to the United States.

In Mexico, the world’s second-largest shrimp producer, production in 2021 will close with 227 thousand metric tons, a growth of 3.7 over 2020. Of this production, 22% is captured in bays and 78% in aquaculture farms. This aquaculture industry generates USD 1 billion each year. The main producing state is Sinaloa, with 40% of the country’s total production, followed by Sonora and Nayarit.

Honduras reported 67.7 million pounds exported, which generated revenues of US$242.5 million. This production has been favored by moderate weather conditions and high demand from Asia and Europe, which has motivated this market.

Currently, one of the challenges of shrimp production for Latin American countries is the crisis in maritime transportation. Freight costs have increased, and the availability of ships has decreased. This directly impacts the shrimp export market, delays shipments of this perishable food and increases transportation costs.