Slow recovery for the Chilean salmon industry
Even though there have been some enhancement comparing with the beginnings of 2009 there are still several issues that will delay reactivation. Therefore, a full recovery is expected not before the year 2013 according to Estrategia.
For example, promoting the implementation of the new sanitary measures the Chilean Economic Development Agency (Corfo) is dispensing financial guarantees of up to USD 8 million, however only one company has received this benefit.
Regarding to the General Law on Fisheries and Aquaculture (LGPA) the producers are against the new time limit for the aquaculture authorizations that would decrease from indefinite to 25 years, jeopardizing their restructuring deals with the banks according to several companies. In addition, the new regulation includes more than 25 sanitary measures, implying an investment that some of the suppliers are not prepared to realize.
Finally, it seems that the relations of the salmon industry with its creditors and suppliers overcome its worst moments. Nevertheless, they have a lot of work ahead of them considering all the negotiations still in process.
