Chilean salmon-farming firm Multi X saw its top-line revenues drop nearly 20 percent in 2024 as the company sold less salmon to all of its markets.
The firm’s 2024 top-line revenues came in at USD 705 million (EUR 646 million) – 19.7 percent down from the USD 878 million (EUR 804 million) it posted in 2023.
During the year, Multi X sold USD 408 million (EUR 374 million) worth of Atlantic salmon to the United States, its main market, a 22.6 percent decrease from the USD 526 million (EUR 482 million) sent to the U.S. the previous year. The company attributed the drop to weaker consumer demand.
Elsewhere, the company sold USD 94.1 million (EUR 86.2 million) worth of Atlantic salmon to Brazil, slipping 0.1 percent from the USD 94.2 million (EUR 86.3 million) it sold in 2023. A 5 percent drop in sales volume to Brazil was partially offset by higher average prices due to active demand, according to the firm.
Domestically, Multi X sold USD 43.5 million (EUR 39.8 million) of salmon to Chile, marking a 14.3 percent drop year over year. The company said that decreased sales volumes domestically were due in part to higher allocation to other markets such as Brazil.
Multi X sold USD 23.7 million (EUR 21.7 million) of Atlantic salmon and USD 5.9 million (EUR 5.4 million) of trout to all Asian markets excluding China during 2024, compared to USD 26.3 million (EUR 24.1 million) and USD 8.5 million (EUR 7.8 million), respectively, in 2023.
China purchased …
