PRO ECUADOR 2014 - Business Report

Business Report 14 Trade Office in the United Kingdom

PRO ECUADOR Business Report

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Francisco Rivadeneira Sarzosa Minister of International Trade of Ecuador Antonio Ruales García Executive Director of PRO ECUADOR Víctor Jurado Carriel General Coordinator of PRO ECUADOR Francisco Mena Ecuador Trade Commissioner in the United Kingdom Maite Freire Director of Communication of PRO ECUADOR Martha Loaiza Design and Layout, Communication Department, PRO ECUADOR Carla González Content Editor, Communication Department, PRO ECUADOR Address: Marquis House, Second Floor Front, 67/68 Jermyn Street, London SW1Y 6NY, United Kingdom. london@proecuador.gob.ec / +44 2030788040 / @proecuador_uk

PRO ECUADOR Business Report

4 SERVICES OFFER FOR BRITISH IMPORTERS • Business Opportunities: we help British importers to get in touch with the best producers / exporters in Ecuador.

• Trade Fairs: we participate in British trade fairs with country pavilions, bringing Ecuadorian exporters to show their products and meet importers.

• Trade Missions: we organize business trips to and from Ecuador, offering assistance in trip logistics, business meetings, visits to factories, etc.

• Promotion Events: we organize business matchmaking and food-tasting events, promotional campaigns, among others.

• Exporter Validation: we validate all our exporters visiting their facilities and checking their legal status.

• Samples delivery: when possible, we help Ecuadorian exporters sending their samples from Ecuador.

• Reports & Statistics: we create business and statisticscreports including the latest innovations and products being developed in Ecuador.

• Authorities: we can organize meetings with authorities in Ecuador (Customs, Revenue, etc.) if necessary.

• Training: we offer training programs about Ecuador paperwork procedures and export requirements, documents and certifications.

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PRO ECUADOR Business Report

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EXPORTS TO THE UK

QUINOA Ecuador is the third largest producer of quinoa in South America.

Ecuador is exporting most of its quinoa production to the USA and Europe.

In Ecuador, there are approximately 2.400 hectares planted with quinoa. By 2015, Ecuador is planning to increase its quinoa exports by 30%. There is a great variety of quinoa products such as: Quinoa flakes, cereals, vegan energy bars.

In the UK, 70% of quinoa products sold are organic and around 10%-20% are certified Fairtrade products. In 2013, the UK imported nearly 1,829 tons of quinoa, worth ÂŁ4.5m, representing a growth of 96.3% in volume of imports and 308% in value from 2012 data.

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PALM OIL Palm oil is the highest yielding oil crop in the world. Ecuador is the second palm producer in Latin America and fifth in the world. Ecuador exported $156m worth of palm oil. Palm oil represents 90% and kernel palm oil 10% of Ecuadorian exports.

Palm oil represents 73.6% of Ecuadorian vegetable oil production. Ecuador mainly exports palm oil products to Venezuela, Colombia and Germany.

In 2013, the UK imported more than 303,000 tons of palm oil, worth ÂŁ171m. It is estimated that around 3-4% of palm oil imports to the UK came from Ecuador.

WHITE FISHERY AND DERIVATIVES Ecuador produces both white fishery and fish meal.

The main varieties of Ecuadorian white fisheries are: pacific moonfish, hake, swordfish, mackerel, sardine, sea bass and others.

Ecuador approximately exports 100,000 tonnes of fish meal per year.

The quality of Ecuadorian fish meals is differentiated by protein value and classified by super prime, prime and standard.

MANGO Due to Ecuador’s privileged climate conditions, Ecuadorian mango is internationally known for its unique tropical flavour and scent.

In Ecuador there are more than 7,700 hectares planted with mango.

The varieties of mangoes produced in Ecuador are: Tommy Atkins, Haden, Keitt and Ataulfo.

Ecuador is in the top 15 of mango producers in the world. Approximately 84% of mango production in Ecuador is intended for export.

The UK imported in 50,000 tonnes of mangoes, worth £60m in 2013.

During 2014 the EU’s ban on Indian mangoes has impacted the mangoes market activity this year, and potentially affecting imports to the UK until December 2015.

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PRO ECUADOR Business Report

10 CHOCOLATE Ecuadorian chocolate is one of the most exquisite of the world, closely developed with the cocoa tradition of Ecuador.

Chocolate and cocoa intermediate products are manufactured in a traditional or industrial technique.

The variety of cocoa derived products are: Cocoa Liqueur, Cocoa Butter, Cocoa Powder, Nibs.

The Ecuadorian chocolate industry currently produces: dark chocolates, milk chocolate and chocolate with fruit bits.

More than 5.000 of Ecuadorian chocolate samples were offered

by PRO ECUADOR during the last Cannes film festival.

In 2013, the UK imported more than 140,000 tons of cocoa derived products, worth ÂŁ302m.

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PRO ECUADOR Business Report

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PRO ECUADOR visited the RHS Chelsea Flower Show 2014, as well as the Natural & Organic Products Europe and the Hotelympia 2014 exhibition. We were also invited to attend The Grocer Gold Awards 2014.

NEWS • On the 14th and 15th of May, PRO ECUADOR held a business roadshow in Guayaquil where 572 Ecuadorian exporters met with 157 international buyers and importers from around the world. In total, 4057 meetings were held to discuss business opportunities. It was a great success which resulted in an expected US$ 200 million worth of potential business. As usual, there was significant interest in Ecuador’s core exports, and growth in value added, industrialized products.

• In June 2014, PRO ECUADOR participated in the first London Produce Show and Conference. PRO ECUADOR had the opportunity to have business meetings with importers and distributors. We also exhibited and promoted our fresh fruits and vegetable as well as flowers. Our exhibition included samples of Ecuadorian bananas and flowers.

The Ecuadorian Ambassador to the UK, Dr. Juan Falconí Puig, visited this event.

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PRO ECUADOR Business Report

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EVENTS

Aromas del Ecuador Business Matchmaking 2014 4th September, 2014 - Quito, Ecuador The fourth edition of the “Aromas del Ecuador� will take place in Quito. We expect 60 international buyers to attend and meet the most important coffee and cocoa producer in Ecuador.

PRO ECUADOR is kindly inviting 2 British importers from the following sectors: - Coffee: green coffee beans, roasted coffee beans and instant coffee.

- Cocoa: cocoa beans, cocoa products, chocolate.

Registration: www.macrorruedaecuador.ec

Business Matchmaking Europe Ecuador 2014 16th September, 2014 - Hamburg, Germany PRO ECUADOR is kindly inviting 5 British importers of the following sectors: - Processed Foods - Agribusiness - Fishery - Aquaculture - Banana and Exotic Fruits Registration: www.macrorruedaecuador.ec

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PRO ECUADOR 20 Business Report 14 Trade Office in the United Kingdom

Marquis House, Second Floor Front, 67/68 Jermyn Street, London SW1Y 6NY, United Kingdom. london@proecuador.gob.ec / +44 2030788040 w w w. p r o e c u a d o r. g o b . e c