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February 2, 2016

Ecuador

Omarsa—China Sales Up, Revenues Down Slightly

 

In 2015, as demand from China increase, Omarsa, Ecuador’s third largest shrimp producer, increased sales volumes to 70.76 million pounds, up 24% over 2014.  Revenue, however, dropped by 1.6% to $240 million, due to lower shrimp prices throughout 2015, compared to the high prices seen after early mortality syndrome (EMS) halved Thai shrimp production in 2013.

 

“We have dealt with lower prices by increasing the size of our shrimp [which provide higher margins] and by selling to markets such as China, which pay better for both whole shrimp [HOSO, head-on shell-on] and added-value,” said Sandro Coglitore, Omarsa CEO.

 

In 2015, 60% of the 70.76 million pounds Omarsa exported went to Asia, up from 58% from 2014 and 44% from 2013.  Omarsa also shipped more shrimp to the USA, up from 7% of total sales in 2014, to 10% in 2015.  Sales to the European Union dropped slightly.

 

In the last five years, Omarsa’s exports have grown 190% in volume and 218% in value, as the company invested about $10 million to improve its processing plant based in Duran.  As a result, the plant’s processing capacity has increased from 350,000 pounds a day two years ago, to 550,000 pounds today.  Plant storage capacity totals about 2 million pounds.

 

Source: Undercurrent News [eight free news reads every month].  Editor, Tom Seaman (undercurrent@undercurrentnews.com).  Chinese Demand Drives 24% Hike in Omarsa Sales Volumes.  Alicia Villegas (alicia.villegas@undercurrentnews.com).  January 29, 2016.

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