Taiwan and Mexico affected by shrimp exports

Taiwan and Mexico affected by shrimp exports
Taiwan and Mexico affected by shrimp exports

TEGUCIGALPA, HONDURAS.- The Honduran sugar cultivation industry shrimp registered a sharp drop in key indicators such as production and exportsespecially to Taiwan and Mexico, which are the first two markets.

According to the latest monthly report of the National Association of Aquaculturists of Honduras (Andah), exports totaled 21,639,515 pounds, less than the 27,060,307 pounds in the January-April 2023 period. It adds that the year-on-year drop was 5,420,792 pounds, equivalent to 20.03%.

This result is due to the market access problems faced by Honduran shrimp farming, especially with Mexico due to the closure of the market since last February 26 for fresh produce, an issue that the Sinaloa District Court is expected to decide tomorrow. May 7th. Added to the above is Taiwan due to a lower purchase of fresh shrimp and the 20% tariff that has applied since December 5, 2023 because the Honduran government decided to break diplomatic relations.

Exports of farmed shrimp to Mexico in the January-April 2023-2024 period decreased from 8,378,611 to 6,437,585 pounds, with a drop of 1,941,026 pounds, which represents 23.17%, according to the Andah market report.

Shrimp export to Mexico, a contribution to the economy

However, the biggest drop corresponds to Taiwan, falling from 8,466,445 to 3,406,490 pounds, equivalent to 5,039,955 pounds, which means 59.52 points in percentage values.

Towards the rest of the destinations for Honduran shrimp, the figures are positive, especially for the European Union, with exports increasing from 4,697,721 to 6,214,809 pounds, with an increase of 1,517,088 pounds and 32.29%. To the United States, the volume exported increased from 994,184 to 1,131,108 pounds. Exports to the Central American market increased from 3,919,568 to 4,028,815 pounds, according to Andah data.

The reduction in exports during the period analyzed has meant a lower income of foreign currency, falling from 84,413,987 to 72,835,009 dollars, equivalent to $11,578,979 and 13.71%. The largest drop in foreign currency corresponds to Taiwan with 17,885,794 dollars, followed by Mexico with $3,578,797.

The latest monthly report from the National Association of Aquaculturists of Honduras indicates that the production of shrimp farmed in Choluteca and Valle decreased from 39,876,975 to 34,804,629 pounds, with a drop of 5,420,792 pounds and 13.59 points in percentage values.

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