Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Government, producers boost development of ĎEcuadorian shrimpí brandTuesday, April 18, 2017 > 12:29:25
Under Current News
The Ecuadorian government, together with producers, plan to create the brand 'Ecuador shrimp' to boost the product's competitiveness worldwide, El Comercio reported.
Ecuador's Minister of foreign trade, Juan Carlos Cassinnelli, and the president of the national chamber of aquaculture (CNA), Jose Antonio Camposano, signed a public cooperation agreement in Guayaquil to create the brand.
The ministry of foreign trade will invest $110,000 on the project, while CNA will invest an additional $690,000 on the project, which will promote the brand for a year.
"It is necessary to work on the creation of a brand to have a competitive advantage and not just focus on the price as some exporters do," Camposano said, pointing out that Ecuadorian shrimp export volume has grown in the last seven years at a rate of 12-15% per year and that Ecuadorian shrimp represent 11% of the world's market.
In 2016, Ecuador has exported a total of 800 million pounds of shrimp, worth $562m. In 2017 so far, Ecuador's shrimp exports were worth $250m.
Ecuadorian exports to the EU in January 2017 were 15% higher year-on-year, Cassinnelli said.
Camposano was going to travel to Brazil next Monday to push for shrimp market liberalization in the country, which was promised by the government but is opposed by the local shrimp industry association.