A growing risk brews in the shadows for Chile’s salmon industry: Bold, broad daylight attacks on trucks moving Chilean salmon.
In a recent incident thieves netted a 22,500-kilogram salmon bounty. Some authorities say this is an isolated trend, while industry associations insist it’s a regular occurrence.
According to a recent report in El Mercurio, in the end of January 2019 five thieves approached a truck parked along… Read More
Chile’s government has enacted a law that would restrict the use of trawling methods to harvest its cuttlefish resources, bringing to a head a conflict between the country’s commercial and artisan fishing sectors.
The bill bans trawling for cuttlefish, also known in Chile as jibia or sepia, putting in place fines of up to USD 38,000 (EUR 33,300) for violators, and stipulates that only hand-lines can be used to extract the… Read More
Damage to two salmon cages owned by Chilean salmon farmer Ventisqueros was reported at the end of December 2018 by Chilean fishery authorities and now, despite prior claims by the company that no escapes had occurred, the firm is acknowledging that over 25,000 salmon did escape.
Chile`s national fisheries and aquaculture service Sernapesca had filed two reports for two separate escapes that occurred at Ventisqueros facilities at the end of 2018.… Read More
Chilean protein producer Agrosuper has received approval from authorities in Chile and the United States to go forward with its planned public offer of shares (OPA) to acquire 100 percent of Chilean salmon farmer AquaChile.
The deal was announced in August of this year. In Chile, the government’s national economic authority (FNE) found that the purchase would not result in undue concentration of the market, ruled out any… Read More
Chilean salmon farmer Camanchaca said an increase in the harvest and sale of salmon during the third quarter of 2018, along with improved sanitary conditions for Atlantic salmon, led to an increase in many of its financial metrics.
Revenue for the quarter increased 59.7 percent year-over-year to reach USD 156.7 million (EUR 137.6 million) in the quarter. Revenues for the accumulated nine months of 2018 reached USD 482 million (EUR 423 million),… Read More
Chile is moving forward with plans to limit bottom-trawling in the country, despite warnings from one of the nation's largest unions that tens of thousands of jobs could be lost or affected by the decision.
Chilean authorities announced in January of this year that it would limit bottom-trawling in 98 percent of its exclusive economic zone (EEZ). The changes were set to take effect in September, and Chilean Fisheries and Aquaculture… Read More
An escape of 650,000 salmon after a storm in July will result in a USD 3.5 million (EUR 3 million) reduction in Marine Harvest’s Chile operational earnings before interest and taxes (EBIT) for the second half of 2018, according to the company. A deadline to catch 10 percent of the escaped fish or risk facing further penalties is set to expire on 3 September.
The company reported the reduction in its earnings report for the first half of… Read More
A sudden change in regulations that would affect the density allowed in Chilean salmon farms has riled the industry.
Chilean Minister of Economy, Development and Tourism Josè Ramòn Valente confirmed the government’s plan to move forward with changes to rules on salmon-pen density limits at a meeting with representatives of 23 salmon farmers that operate in Chile’s salmon-producing regions. Valente confirmed that… Read More
Chilean animal protein giant Agrosuper will halt plans to list Chile’s largest national salmon farmer AquaChile on the Oslo Bors exchange, and is strengthening its salmon business to grow its global exports.
Agrosuper announced on 4 August it had reached an USD 850 million (EUR 736.4 million) agreement to buy 67 percent of AquaChile from Holding Salmones Ltd. and Inversiones Patagonia Ltd., Agrosuper will pay USD 0.73 (EUR 0.63) per… Read More
The consolidation of Chile’s salmon sector continues with news that the majority shareholders of AquaChile have agreed to sell 67 percent of the company to Chilean food giant Agrosuper in a deal worth USD 850 million (EUR 736.4 million).
Agrosuper is a leading domestic supplier of chicken, beef, and pork. According to the company’s 2017 annual report, the firm had approximately USD 2.5 billion (EUR 2.14 billion) in total sales of… Read More