Ecuador: Molluscs Market 2024

Molluscs Market Size in Ecuador

In 2021, the Ecuadorian molluscs market increased by 44% to $X, rising for the third year in a row after three years of decline. The market value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Molluscs Production in Ecuador

In value terms, molluscs production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 42%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Molluscs Exports

Exports from Ecuador

In 2021, overseas shipments of molluscs (scallops, mussels, cuttle fish, squid and octopus) decreased by -49.9% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2019 when exports increased by 95% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, molluscs exports contracted dramatically to $X in 2021. In general, exports, however, posted a slight increase. The pace of growth appeared the most rapid in 2019 when exports increased by 139%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for molluscs exports from Ecuador, accounting for a 38% share of total exports. Moreover, molluscs exports to Colombia exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The third position in this ranking was taken by Tunisia (X tons), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to Colombia amounted to -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+22.3% per year) and Tunisia (0.0% per year).

In value terms, the largest markets for molluscs exported from Ecuador were Colombia ($X), Brazil ($X) and Tunisia ($X), together accounting for 38% of total exports. These countries were followed by Spain, the United States, Portugal, Belgium, Mexico, Malaysia, Italy, the Netherlands, Costa Rica and Thailand, which together accounted for a further 45%.

In terms of the main countries of destination, Belgium, with a CAGR of +281.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average molluscs export price stood at $X per ton in 2021, rising by 12% against the previous year. Overall, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, molluscs export price increased by +28.7% against 2018 indices. The growth pace was the most rapid in 2016 when the average export price increased by 32%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into Ecuador

In 2021, purchases abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) decreased by -32.6% to X tons, falling for the second consecutive year after three years of growth. Overall, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 58%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, molluscs imports amounted to $X in 2021. In general, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 49% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Peru (X tons) was the main molluscs supplier to Ecuador, with a approx. 99% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Peru totaled -11.2%.

In value terms, Peru ($X) constituted the largest supplier of molluscs (scallops, mussels, cuttle fish, squid and octopus) to Ecuador.

From 2012 to 2021, the average annual rate of growth in terms of value from Peru amounted to -10.4%.

Import Prices by Country

The average molluscs import price stood at $X per ton in 2021, surging by 56% against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Peru.

From 2012 to 2021, the rate of growth in terms of prices for Peru amounted to +1.0% per year.

Source: IndexBox Platform

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