Articles
Business intelligence and analysis on Ecuador
Caso Progen: Judicial Documents Trace $110M Through Personal Accounts — 21 Individuals Face Embezzlement Charges May 14
Judicial documents in the Progen case reveal that USD 110 million in advance payments for 49 thermoelectric generators — none of which became operational — were distributed through personal accounts at the Federal Reserve and Regions Bank. Charges against 21 individuals are scheduled for May 14.
Aeropuerto de Cancún Acquires Indirect Control of Quiport Through Motiva Stake Purchase; Regulator Approves
Ecuador's Superintendencia de Competencia Económica approved the acquisition by Aeropuerto de Cancún S.A. de C.V. of 100% of Brazilian company Motiva's shares, granting the Mexican group indirect control of Corporación Quiport — operator of Quito's Mariscal Sucre International Airport.
Mother's Day Flower Exports Hit Record 24,800 MT (+16%); Quito Airport Rises to 4th in LatAm Cargo Rankings
Ecuador's Mother's Day flower export season set a new record at 24,800 metric tons over 21 days — a 16% increase over 2025. Avianca Cargo reported 55% growth in Ecuador operations. Quito's Mariscal Sucre airport climbed to 4th in Latin American cargo rankings.
CAN Resolution 2582 Orders Ecuador-Colombia Tariff Withdrawal Within 10 Business Days; Colombian Exports Already Down 60%
The Andean Community issued Resolution 2582 on May 7, ordering Ecuador and Colombia to withdraw reciprocal tariffs within 10 business days. The ruling declares both countries' measures incompatible with the Cartagena Agreement. With Ecuador's rate at 75% and Colombian exports down 60% through March, industry leaders on both sides call current conditions unsustainable.
Ecuador April Sales Reach $24.37B: Mining +28.6% to $977M, Energy +28.4%, Real Estate +28.4% as Amazon Provinces Lead Growth
Ecuador's April 2026 commercial sales reached $24.37 billion — 12.7% above April 2025 and 23% above 2024. Mining and quarrying led with $977.3 million (+28.6%), while energy supply and real estate each grew 28.4%. Amazon provinces posted the fastest growth, with Zamora Chinchipe surging 41.5%.
MAGP Deploys $42.4M Agricultural Technification Program: Drone-Assisted Farming, Irrigation for 3,288 Hectares, 1,670 Apiary Kits Across 23 Provinces
Ecuador's Ministry of Agriculture (MAGP) is deploying a $42.4 million program targeting small and mid-scale producers across 23 provinces. The three-component initiative covers technified irrigation for 3,288 hectares, drone and mechanization subsidies at 75% government cost, and a 1,670-kit beekeeping expansion through 2027.
Ecuador's Fuel Subsidy Band System Is Failing: Diesel Subsidies Hit $160M/Month as International Prices Surge
Ecuador's fuel band pricing system — designed to gradually eliminate subsidies — is producing the opposite effect. International diesel prices surged up to 66.8% in March 2026, but the system caps monthly increases at 5%, forcing the state to absorb a growing gap. Diesel subsidies alone now run approximately $160 million per month.
Energy Supply Brief: 270 MW Offline at Minas San Francisco, Karpowership Barge Renewal Stalled, New Minister's Corporate Ties Under Scrutiny
Ecuador's electricity supply margin tightened further this week as the 270 MW Minas San Francisco plant went offline for mandatory reservoir maintenance through May 16, while the Karpowership Emre Bey barge's contract renewal remains suspended by Sercop procurement objections. Meanwhile, new Energy Minister Juan Carlos Blum's shareholdings in a state-contracting consultancy raise governance questions.
Ecuador's Rice Sector in Crisis: Colombia Ban Creates 80,000-Ton Surplus as Farm-Gate Prices Collapse 38%
Colombia's rice import ban on February 24, 2026 eliminated Ecuador's dominant export destination — 90% of the exportable surplus — creating an estimated 80,000-metric-ton domestic glut. Farm-gate prices collapsed 38% as piladoras slashed purchasing rates. The government's $8 million emergency purchase covers only a quarter of the surplus.
Second Thermal Procurement Failure in Two Weeks: Celec Pascuales 50 MW Contract Declared Desert
Celec declared the 50 MW Pascuales thermal generation rental process desert on May 4, with all four bidders disqualified. Combined with the El Descanso III failure on April 27, Ecuador has lost 70 MW of planned emergency generation capacity ahead of the October dry season.
ASOTEP Assessment: Peru's Chancay Megaport Impact on Ecuador 'Indirect and Non-Substitutive'
Ecuador's Port Terminals Association (ASOTEP) assesses that Peru's Chancay megaport has created an 'indirect and non-substitutive' impact on Ecuadorian port operations, reconfiguring regional transshipment routes toward Asia rather than displacing Ecuadorian cargo directly.
Cenace Projects 18% Blackout Probability for October-March Dry Season
Ecuador's national grid operator Cenace has modeled an 18% probability of rolling blackouts during the October 2026-March 2027 dry season, driven by the loss of Colombian energy imports and recurring shutdowns at the Coca Codo Sinclair hydroelectric plant.