Salmon prices moving into a downward cycle
Chile’s salmon industry is cycling down from a very fortunate revenue period since late 2004. According to José Ramón Gutiérrez, president of Multiexport Foods, “The two main reasons for the price decline are due to the strong increase in Norway’s production, which is 29.2% higher than in 2006, and the high capture of wild salmon from Alaska, where they are having the best capture in the past ten years.” Reasons such as these are perhaps some of the motives for keeping other salmon companies such as AquaChile on standby before enlisting in the stock market. As for Invermar, the first Chilean salmon company to be placed in the stock exchange, they have been anticipating the downward cycle for quite some time. According to a report from La Estrategia, the company started preparing for a gradual decrease since late 2006, adjusting their prices to those similar to the global average in 2005.
