Australis expects super-price cycle
In its latest shareholder meeting, the Chilean salmon producer highlighted the current trend of rising prices as well as its lower costs policy for the year.
The rise in prices recorded by Chilean salmon played a leading role in the latest annual meeting of shareholders of Australis Seafoods, the financial journal Pulso reports. In this regard, an important executive of the company - which posted losses of US$ 11.2 due to algae blooms this year - stressed the need to harness what he described as a super-price cycle. He expects that positive trend to last all this year and the next one.
He also said his company expects the debate on regulations to be concluded soon, in order to avoid sanitary problems. In that sense, Australis Seafoods expressed support for the position of the Association of the Chilean Salmon Industry (Salmonchile), regarding the need for greater flexibility on those regulatory restrictions that are being imposed.
Regarding fines that Australis could receive from the Chilean Environmental Authority for non-compliance with contingency plans during the algal blooms and subsequent delay in the withdrawal of mortalities, the executive said the company has not received a formal notification yet, although comments have been received from the Sanitary Authority.