Chilean fishing company PacificBlu has announced it will shutter its operations as of 1 January 2026 after the Chilean government determined to lower the industrial fishing quota of hake in a new fishing bill.
The bill advancing in Chilean congress proposes to lower total quotas for industrial fishing in favor of artisanal fishers.
Under the bill, the quota for hake would be lowered to 48 percent from the current 60 percent for industrial fishers, meaning that Talcahuano, Chile-based PacificBlu’s operations would become unsustainable when the law comes into effect at the beginning of next year, according to the firm. Closure of the company would affect more than 800 direct workers, as well as another 2,400 indirect jobs.
The Chilean industrial fishing sector has maintained that the decision made by Chilean authorities to adjust quotas was based on erroneous information.
When outlining the bill, Chilean Undersecretary of Fisheries Julio Salas told the Chilean Congress that the industrial sector only caught 61 percent of the hake quota, which parliamentarians used as justification for reassigning that quota. However, industrial fishers have sustained that the figure exceeds 90 percent; PacificBlu CEO Marcel Moenne said that his company actually fulfills close to 99 percent of its quota.
Chilean Economy Minister Nicolás Grau has acknowledged …
