Puerto Montt, Chile-based salmon farmer Multiexport Foods has begun exporting products from its Latitude 45° smoked salmon brands to Singapore, and plans to expand its reach to other countries in Asia.
The Chilean firm started to export its smoked salmon to the Singaporean market during the fourth quarter of 2020, making a catalog of five different products available at the Dairy Farm, a leading pan-Asian retailer found in 12 markets in the region.
“Singapore is one of the most-developed emerging markets in the world. As such, we see an opportunity for growth, mainly due to the large percentage of the middle class living in the country that is open to trying flavors and trends from other places. We also believe that this is a gateway to other Southeast Asian countries,” Multiexport Foods Consumer Products Manager Josefina Lyon said.
The company expects to export some 80 tons of Latitude 45° products to Singapore this year alone, Lyon said.
Lyon was hired a year ago as Multiexport’s new manager of the value-added products (VAP) division. The branch, part of the commercial department, oversees all activities of the smoked salmon business, which in 2019 bought in USD 42 million (EUR 38.6 million) in sales, placing Multiexport as the leading exporter of value-added salmon products, with a 69 percent share at the time.
Before entering Singapore, Latitude 45° products were only sold in the U.S. Under its brand expansion plan in Asia, Multiexport is now looking to enter the Malaysian market this year, with new value-added products.
Founded in 1987, Multiexport Foods has more than 2,400 employees, with productive activities in southern Chile’s regions IX, X, XI, and XII. It is present throughout the salmon production chain, from reproduction to distribution to end-consumers in more than 30 countries.
Photo courtesy of Multiexport Foods
