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For Exporcareca, a new shrimp marketplace means faster payment and less exposure to market volatility

Harry Viafara
XpertSea
Harry Viafara
Harry Viafara

Owner of Exporcareca - Ecuador

Customer

Harry Viafara is the owner of Exporcareca, located near Guayaquil in the Taura region of Ecuador. His farm contains 160 hectares of land and has been in operation for 5 years.

Exporcareca is known to be producing the highest quality shrimp, which allows them to sell to the most rigorous buyers in the country.

Challenge

Throughout 2020, Ecuador’s shrimp sector has been faced with many challengesーfrom drops in international prices and domestic consumption to labour and logistical shortages caused by the Covid19 containments.

Although stress was experienced by all in the supply chain, farmers felt increasing pressure to sell their inventory and get paid quickly as the prices continued to decline.

“It was becoming more apparent that Ecuador was experiencing liquidity issues as processors were continuing to lower their purchase prices. Prices were so low that there were times when we couldn't cover all production costs.” - Harry Viafara, owner of Exporcareca

During this time, Mr. Viafara would sell his shrimp directly to the processing facility and wait, on average, 16 days to receive the proceeds from the sale.

As a way to reduce his risk, he would negotiate a 50% payment upfront in case the processor was unable to pay on time.

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.

After working with XpertSea, Mr. Viafara has been able to improve his cash flow and ability to fulfill commitments with suppliers and staff by receiving 100% of his payments within 3 days

 “Thanks to XpertSea’s agile payment process,  I receive my payment in two or three days, and I don’t have to worry about possible delays created by market volatility. This payment certainty helps me maintain commitments with my suppliers, staff and the other supports that we use on a daily basis to keep our farm running smoothly.”

How a new shrimp marketplace means faster payment and less exposure to market volatilityAs part of XpertSea’s harvest service, Exporcareca has also taken advantage of the monitoring tools provided to evaluate shrimp weight distribution.

Since mid-August, they have been using XpertSea’s new mobile application weekly to assess the growth in 16 ponds. The digital sampling technique helps them improve harvest planning.  

“I heard about XpertSea through social media and other social networks. I was a bit skeptical at first, but after trying the app and their fast payment services, I was surprised at how well it works and would advise anyone else interested to try it out."

"XpertSea is a very dedicated company that not only has great technology but also provides the necessary field support to make sure you are successful.”

Conclusion

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.

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.

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