The London Fish Exchange (LFEX) has signed a commercial joint venture with Puerto Montt, Chile-based DataSalmon to launch trading of Chilean salmon aquaculture products on the LFEX platform.
The platform will support sales of Chilean Atlantic salmon, coho, and trout domestically and internationally, LFEX reported in a release. It will specifically target five key distribution markets: the U.S., Brazil, Japan, China, Southeast Asia, and Russia.
“Salmon and trout are two of the key aquaculture markets globally, with Chilean salmon and trout specifically accounting for more than 30 percent of total annual volumes in these species. As the digitization of markets starts to become the norm, we are delighted that we can support the distribution and procurement of these products for the benefit of future and current participants on the platform,” LFEX Co-Founder John Ersser said. “This represents another big step in the development of the business, in line with our desire to be the leading aquaculture and fisheries trading platform globally.”
DataSalmon provides data and research services from the Chilean salmon market, including real-time pricing and market trends. The company was cofounded by industry veteran Arturo Clement, the CEO of salmon farming industry association SalmonChile, a board member of the Chilean Salmon Marketing Council, and past CEO of Multiexport Foods. According to DataSalmon CEO Javier Peró, the company has been looking for the opportunity to implement a trading system for a several years now “and LFEX offers the skill and knowledge needed combined with the very latest, best-of-breed technology.”
“Everyone recognizes that the future is digital, [but] until now there [hasn’t been] a platform suitable for this market. We know that we can help our customers with pricing discovery, communication, distribution, trading and post-trade services on a single integrated platform which benefits everyone,” DataSalmon Product Manager Fernanda Clement said.
Based in London, the independent LFEX Trading Platform was launched in January 2020 and now handles active sell-side and buy-side trading of farmed Atlantic salmon raised in Europe. It is in the process of rolling this product out globally, while also adding new features, functionality, and products as the business expands.
Photo courtesy of London Fish Exchange
