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For Oro del Mar, XpertSea's new shrimp marketplace helps mitigate market volatility and improve production strategies

Carlos Santos
XpertSea
Carlos Santos
Carlos Santos

Owner of Oro del Mar - Ecuador

The customer

Carlos Santos is the owner of a 200-hectare shrimp farm located in Guayas, Ecuador, known as Oro del Mar. His passion for the profession was passed down from his father, who started farming 25 years ago and continues to operate in Tenguel. 

The challenge

As a necessity to receive the best pricing for his crops, Carlos has built strong relationships with buyers. Yet, market fluctuations and unforeseen global events in recent years have caused significant delays in payments.

This type of restricted capital can create cash flow deficits, making it challenging to achieve multiple crop cycles per year and limiting overall profit potential. 

"I used to sell to one or two processors but was put into a position of sometimes waiting up to three months after harvesting before getting paid for my crop," said Carlos Santos. "Going to a bank for a loan or cash advance was not the best solution due to its lengthy approval process, so we would be left with the option of waiting for the shrimp to be exported."

The solution

XpertSea's data-driven marketplace connects shrimp producers and buyers for fast, efficient and secure harvest transactions.

When transacting through XpertSea's marketplace, farmers have access to guaranteed same day payment as well as a larger network of vetted buyers — powered by XpertSea’s new mobile app, AI and dedicated field team.

This certainty brings heightened confidence and financial peace of mind that previously was not available in Ecuador. 

After working with XpertSea, Santos received payments for his harvest in less than 24 hours. He leverages this service to mitigate market volatility and improve his production management strategies. 

"I choose to sell to XpertSea because I receive the payments faster than with my usual buyers. This allows me to buy feed and continue growing additional crops. It has helped me run my operation more smoothly, generate additional cycles more effectively, while retaining existing buyer relationships since I can still select which processor I want to work with."

The marketplace is currently open to all Ecuadorian farmers and buyers, and more countries are slated to join in 2021. With customers in over 50 countries, we're using artificial intelligence and data to make aquaculture more profitable and sustainable.Recap of Carlos Santos' testimonial

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