Profits rise by 127%
During 2016 the profitability of those salmon producers listed on the Santiago Stock Exchange has more than doubled, while a positive performance of these firms is expected this year too.
2016 was a year where global warming and the El Niño Current intensified and high levels of Harmful Algal Blooms (HABs) were recorded on the Chilean coast, resulting in the loss of almost 20% of the salmon production volume.
Despite this setback, the lower availability of salmon has driven very good prices in the industry. Even during the third week of 2017, Trim-D Chilean salmon fillets were averaging US $ 6.11 per pound (US $ 13.47 per kg) in Miami, the highest value since January 2012.
El Mercurio recently reported that, "the market capitalization of local salmon farmers has more than doubled in the last twelve months. Thus, the value of Chilean aquaculture companies has grown 127% in a year. Moreover, so far in 2017 its market value has increased 17.28%. "
Between February 2, 2016 and the same date this year, Multiexport showed a greater advance in its market value, increasing its profitability by 206.45%; while in the same period Australis Seafoods exhibited an increase of 142.53%; Camanchaca of 117.66%; Invermar of 75%; Blumar of 65.03% and Aquachile of 60%.
