It could take months, perhaps years, for Chile's farmed salmon industry to rebound. The infectious salmon anemia outbreak is taking a toll on the country's production, which, according to one executive, is forecasted to plunge by as much as 67 percent, to 120,000 metric tons, in 2009.
Marine Harvest's Chilean operations harvested 9,283 metric tons of salmon in the second quarter of 2009, less than half of what it culled during the same three-month period in 2008, the Norwegian company unveiled on Friday. Though it remains committed long-term to Chile, Marine Harvest is scaling back its Chilean operations out of necessity.
To offset the production shortfall in Chile, the company's Norwegian operations produced 48,947 metric tons of salmon in the second quarter of this year, up 6,575 metric tons from last year. Marine Harvest now expects to harvest 313,000 metric tons of salmon worldwide in 2009, including 70,000 metric tons in the third quarter.
Rival AquaChile is also fighting to keep its head above water. After on-and-off negotiations, nine Chilean banks reached an agreement with the Chilean company to refinance its debt, demonstrating the banks' confidence in the viability of Chile's farmed salmon industry.
In the United States, buyers are hopeful that farmed salmon prices are steadying somewhat - it's been a rollercoaster ride so far this year. In mid-August, prices fresh Chilean fillets were inching upward, quoted in the mid- to high-USD 3 range for 1- to 2-pound fillets, low- to mid-USD 4 range for 2- to 3-pound fillets, mid-USD 4 range for 3- to 4-pound fillets and mid- to high-USD 4 range 4- to 5-pound fillets, f.o.b. Miami. Prices of frozen Chilean fillets were holding firm.
August 16, 2009
