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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Ecuador President Guillermo Lasso has announced a world-record debt-for-nature swap that will benefit the marine area surrounding the Galapagos Islands.
With international technical support, Ecuador converted USD 1.6 billion (EUR 1.5 billion) in commercial debt into a USD 656 million (EUR 603 million) loan financed through a new bond issued by Credit Suisse.
“Today we made history: Ecuador reduced USD 1.1 billion [EUR 1 billion] of debt,
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Chile’s Environment Superintendency, SMA, has initiated the process of charging Puerto Varas, Chile-based Australis Seafoods with overproduction at several of its salmon farms.
The environmental authority accused Australis of 85,000 metric tons (MT) of overproduction between 2014 and 2022, and the company now faces a total fine equivalent of up to CLP 178 billion (USD 225 million, EUR 205 million), Diario Financiero (DF)
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Ecuador’s annual seafood exports to the United States are now under threat due to the South American country’s failure to meet U.S. standards for limiting whale and dolphin bycatch.
Ecuador’s seafood exports to the U.S. total about USD 1.6 billion (EUR 1.46 billion) annually. The U.S. imported 226,480 metric tons (MT) of fisheries products from Ecuador in 2021, including tuna, shrimp, mahi, and swordfish.
Eco-labels and effective messaging on recyclable packaging are big drivers of seafood at retail in the United States, according to
Giant Eagle, which operates nearly 500 stores in the U.S. Mid-Atlantic and Midwest regions, surveys its customers every year to analyze their preferences and identify consumer trends. In its latest survey, more than 50 percent of
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Coho salmon is becoming a more popular option for Chile’s salmon-farming industry.
Because of a mucus coho naturally has on its skin, as well as stronger, tighter scales, it is typically immune to sea lice and the infectious salmon anemia (ISA) virus. Coho can also be harvested before Chile's summer, when the risk of algae blooms increases due to higher water temperatures. Chile’s salmon-farming industry has also pledged to
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As Ecuador’s multibillion-dollar shrimp sector continues to grow, animal health and welfare will be the next area of focus for the aquaculture industry, according to José Antonio Camposano, executive president of Ecuador’s National Chamber of Aquaculture (CNA).
Over the years, Ecuador’s shrimp industry has learned to embrace international requirements and implement changes to be aligned with them, according to
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Puerto Montt, Chile-based Multi X is planning to launch the Arka super-premium brand of smoked salmon, making the product available to premium U.S. grocery retailers during the second quarter of 2023.
The Arka brand, a name that means “heaven” in the native Kawésqar dialect, will market salmon that are antibiotic-free, Aquaculture Stewardship Council-certified, and Best Aquaculture Practices (BAP) 4 Star-certified.
The move
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Bondholders of Punta Arenas, Chile-based salmon farmer Nova Austral, which has admitted operational challenges and liquidity constraints, have approved the company’s proposed restructure plans in a bid to keep the company afloat.
“We are pleased to announce that the bondholders in each of the bond issues have voted in support of the proposed restructuring and the implementation steps described in the summons,” the company said
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Salmones Camanchaca plans to double its coho salmon production now that it has recovered from the impacts of the Covid-19 pandemic and the algae bloom that walloped the company in 2021.
“We see great opportunities for Salmones Camanchaca in coho because it adapts well to the conditions of Chilean Patagonia and better resists existing endemic diseases,” Salmones Camanchaca Vice President Ricardo García, said in a release
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Punta Arenas, Chile-based salmon farmer Nova Austral continues to face operational challenges and liquidity constraints in the latest chapter of the company’s troubled history.
The company said in a report to the Oslo Børs in March that it entered default on loans to its subsidiary Piscicultura Tierra Del Fuego, and in a new report in early April the company issued a summon to bondholders meeting offering up two main options for the
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