Reported about 1 year ago
Since cutting ties with Taiwan in March 2023, Honduras has had a strong impact on its shrimp farmers. The market report for May 2024 shows a sharp decline in Hong Kuo shrimp exports, resulting in a 55.8% decrease due to reduced exports to Taiwan. Taiwan has slipped to 4th place, accounting for only 15.7% of Hong Kuo's shrimp exports, with the top 3 being the EU, Mexico, and Central America. The delay in the China-Honduras Free Trade Agreement and lower pricing compared to Taiwan have led to difficulties for Hong Kuo shrimp farmers, causing them distress.
Source: YAHOO