Ecuador Emerges as a Global Tuna Powerhouse: Exports to Surpass $1.6 Billion in 2024

Ecuador is on track to reach a historic milestone in its tuna exports, with projected revenues exceeding $1.6 billion in 2024—the highest in the past decade. According to the Ecuadorian Tuna Processing Industry Association (CEIPA), exports of canned tuna and cooked frozen loins rose by 31% in value and 25.5% in volume compared to the previous year.

This growth is largely driven by an increase in tuna stocks in the Eastern Pacific, where total catch volumes reached 930,000 tons. Despite operational challenges stemming from prolonged drought and resulting power shortages, the industry has shown remarkable resilience and adaptability.

Stable Free on Board (FOB) prices—around $1,600 per ton for skipjack and $2,200 for yellowfin—have further enhanced Ecuador's competitiveness in the global market.

The European Union remains the country’s top export destination, accounting for 63% of total shipments, cementing its role as a key trade partner for Ecuador's tuna industry. Together with Thailand, Ecuador is now playing a pivotal role in reshaping the global tuna trade landscape.

Still, the sector faces significant challenges, including overfishing, environmental sustainability concerns, fluctuating market prices, evolving consumer preferences, geopolitical tensions, and the impacts of climate change. In response, Ecuador’s tuna industry is embracing innovation and product diversification, opening up new growth opportunities and reinforcing its global presence.

With these developments, Ecuador not only strengthens its leadership in the region but also positions itself as a strategic player in the future of global seafood trade.

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