Chile’s shipments of salmon and trout totaled USD 1.55 billion (EUR 1.54 billion) in the second quarter of the year, a 34 percent bump when compared to the same period in 2021, according to the Chilean Salmon Council’s Quarterly Report on Salmon Exports.
Salmon and trout exports reached USD 3.22 billion (EUR 3.19 billion) during the first half of the year, up 30.5 percent, according to the report, which includes the total exports from Chile and which is based on information from the Central Bank and the National Customs Service.
“Salmon exports have continued to grow in the second quarter of 2022 and are above pre-pandemic levels, reflecting strong global demand for Chilean salmon,” Salmon Council Executive Director Joanna Davidovich said in a release. “However, costs have also increased considerably, with significant increases in freight to final destination due to high fuel prices and logistical difficulties, and in raw materials used in the production of feed, the main input in salmon farming, due to the war in Ukraine.”
The future looks “auspicious” for Chilean salmon exports, “but highly volatile and uncertain with a global macroeconomic scenario marked by high inflation, doubts about growth, high oil prices, and logistical difficulties,” she added, calling for the country to establish a long-term growth strategy with a regulatory framework that protects the environment while promoting the sustainable, competitive development of salmon farming, “so that it continues to be an engine of progress in the southern regions.”
During the quarter, the U.S. and Brazil consolidated their leadership positions in terms of highest importers of Chilean salmon, with shipments to the U.S. increasing 35.8 percent to USD 782 million (EUR 774 million), and shipments to Brazil increasing 28.9 percent to USD 223 million (EUR 221 million). The council attributed the increase in the U.S. to continued high demand registered since the beginning of 2021 thanks to the opening of the HORECA (hotel, restaurant and catering) channel and a consolidation of retail sales. Meanwhile, it said that the higher exports to Brazil responded to continuing demand and an expansion of the market with sales to new regions.
Chile also saw increased demand from Japan, up 24.2 percent to USD 160 million (EUR 158 million); Mexico, up 60 percent to USD 40 million (EUR 39.6 million); and China, up 56 percent to USD 46 million, (EUR 45.6 million) – although the council noted that in the case of China, the year-over-year boost in Q2 came from a very low export base in the same quarter of last year. In fact, despite the increase the value of exports to China is still lower than before the COVID-19 pandemic, and exports to the country only represent 2.4 percent of Chile’s total exports during the first half of 2022. At the same time, Q2 exports to Russia dropped 72.1 percent to USD 15 million (EUR 14.8 million) over “logistical difficulties” brought on by the war in Ukraine. Its relative market share decreased to 2 percent of total exports.
Photo courtesy of the Chilean Salmon Council
