Chilean sea bass, or Patagonian toothfish, is not only found in Chilean waters. While Chile accounted for almost 100 percent of the supply up until 1997, other countries have joined the harvest. Argentina, France, Australia, Uruguay and South Korea take their catch from Antarctic waters in the deep south of the Atlantic, Pacific, Southern and Indian oceans.
Chile’s catch in 2011 reached 1,850 metric tons, a 37 percent drop from 2010. The United States is the largest importer of the fish, accounting for 20 percent of the global catch; 84 percent of its total supply is from Chile. Argentina and Australia are also top suppliers, feeding the U.S., Japan and EU markets. Chilean fishermen are working to breed the fish in captivity to increase harvest numbers.
The Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) regulates 96 percent of the total worldwide catch. Up until 2005, illegal fishing vessels attributed to 47 percent of the total amount of Chilean sea bass caught. Strong law enforcement action, particularly from Australia and France, has greatly reduced the illegal catch. Countries that are signatories to CCAMLR are required to only import fish with the commission’s stamp of approval.
The United States imports approximately 10,000 tons of Chilean sea bass per year, which accounts for between 10 percent and 20 percent of the annual catch. Japan and the European Union are other key importers.
In Chile the fish can be found in the Central Market of Santiago, or some of Chile’s upscale restaurants. While the fish is sold in the United States and Japan for up to USD 30 per kilogram, toothfish commands approximately CLP 8,000 (USD 16) per kilogram at Chile’s markets.
GlobalPesca is Chile’s leading toothfish fishing company, while ChileFish is a major exporter. ChileFish sells to the U.S. market for an average of USD 10 per kilogram. Isla del Rey is another key player in Chile. Aside from Chile there are other companies based in Argentina, the Falklands/Malvinas and South Georgia Island.
Chronic overfishing has led to a decline in supply of Chilean sea bass. The fish is not currently endangered but is recognized as overfished.
