A native of San Francisco, Christian Molinari has lived and worked in Chile for over 20 years, after having arrived in Santiago as a volunteer and falling in love with the culture and its people. He covered business news in Latin America for over a decade, worked in communications at IBM Chile, and currently freelances in strategic communications and reporting.
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Santiago, Chile-based seafood firm Camanchaca has rescheduled the revolving long-term financing it contracted with the banks DNB Bank, Rabobank, and Banco Santander Chile.
The newly signed agreement modifies its tranche B financing, awarded in November 2017, totalling USD 33.3 million (EUR 33.6 million), which is fully used and was slated to amortize in 2024. The new terms increase the company's tranche B financing to USD 40 million (EUR
… Read MoreChilean citizens overwhelmingly voted to reject a proposed new constitution on Sunday, 4 September, in a move that prevents further headaches for the country’s USD 5.2 billion (EUR 5.2 billion) salmon-farming sector.
According to Servel, Chile’s elections department, 4.86 million people voted to approve the proposed constitution, while 7.88 million rejected it, meaning the measure failed 61.9 percent to 38.1 percent.
The
… Read MoreLos Ángeles, Bio Bio, Chile-based Salmones Austral recorded revenue of USD 147 million (EUR 148 million) during the first half of 2022, up 5.7 percent compared to the same period of 2021.
The gains came principally due to higher salmon prices, according to the company. In H1, Salmones Austral averaged USD 5.90 (EUR 5.96) per kilo whole-fish equivalent (WFE), compared to USD 4.52 (EUR 4.57) per kilo WFE in the first six months of 2021,
… Read MoreCoordinadora Arauco-Malleco (CAM) – an indigenous organization in Chile that advocates for the creation of an autonomous state for the indigenous Mapuche people in the Araucanía region, where they claim historical rights – has called for increased sabotage against industries, including the salmon-farming sector, operating in the south of the country.
CAM's statement came in response to the arrest of its leader,
… Read MoreEcuador’s Vice Ministry of Aquaculture and Fisheries of the Ministry of Production, Foreign Trade, Investments, and Fisheries (MPCEIP) has signed a confidentiality agreement with the U.S. Food and Drug Administration (FDA) in the first step of a strategic alliance with one of the Latin American nation’s main markets for shrimp exports, according to Ecuador’s National Chamber of Aquaculture (CNA).
“The purpose of this
… Read MoreSantiago, Chile-based salmon farmer Salmones Camanchaca posted a positive Q2 2022, reversing the losses the company posted in 2021.
Camanchaca continued to benefit from high market prices during Q2 2022 while the company simultaneously decreased its costs, which combined to bolster its bottom line. Net profits for the quarter came in at USD 16.9 million (EUR 16.8 million), versus a loss of USD 8.4 million (EUR 8.36 million) during Q2
… Read MoreChile’s largest salmon farmer, AquaChile, has sent its first shipment of Verlasso salmon, the company’s premium brand, to France.
“After having sent a sample of our products, we dispatched the first sale of Verlasso Salmon Ultra Premium Salmon to France, where it will be distributed in exclusive restaurants in the country,” AquaChile said on its LinkedIn channel.
AquaChile’s Verlasso ultra-premium salmon was
… Read MoreThe social protests that spread through Ecuador in the last two weeks of June 2022 caused an estimated USD 9 million (EUR 8.96 million) in losses to the country's shrimp sector, Ecuador’s National Chamber of Aquaculture (CNA) Executive President José Antonio Camposano told SeafoodSource.
The Confederation of Indigenous Nationalities launched an indefinite national strike that virtually paralyzed economic activity in
… Read MoreChile’s USD 5.2 billion (EUR 5.1 billion) a year salmon industry is the second largest in the world – representing 27 percent of world production – but it risks falling by the wayside if it continues without a medium- to long-term strategy, according to sector observers.
“Salmon farming is a relatively young productive sector in Chile, which has developed in the last 40 years and has been one of the main engines of
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