Chilean salmon exports to China increased by 260.1%! It may continue to grow in the future!

According to figures published by the Chilean Salmon Council, Chile exported approximately 164,730 metric tons of farmed salmon and trout worth $1.54 billion in the third quarter of 2022, an increase of 18.1% in volume and 31.2% in value compared to the same period last year.
In addition, the average export price per kilogram was also 11.1 percent higher than the 8.4 kilograms in the same period of the previous year, or US$9.3 per kilogram. Chilean salmon and trout export values ​​have significantly exceeded pre-pandemic levels, reflecting strong global demand for Chilean salmon.
The Salmon Commission, comprising Empresas AquaChile, Cermaq, Mowi and Salmones Aysen, said in a recent report that after a sustained decline from the last quarter of 2019 to the first quarter of 2021 due to the impact of the pandemic, it is the It was the sixth consecutive quarter of growth in fish exports. “Exports are doing well in terms of prices and volumes exported. Also, salmon export prices remain high, despite a slight decrease compared to the previous season.”
At the same time, the council also warned of a “cloudy and volatile” future, characterized by high inflation and severe recession risks from high production costs, high fuel prices and a host of other logistical difficulties that have not yet been fully resolved. Costs will also continue to rise during this period, mainly due to rising fuel prices, logistical difficulties, transportation costs, and feed costs.
Salmon feed costs have increased by about 30% since last year, largely due to higher prices for ingredients such as vegetable and soybean oils, which will reach record highs in 2022, according to the council.
The council added that the global economic situation has become increasingly volatile and uncertain, which is also having a very deep impact on our salmon sales. More than ever, we should develop long-term growth strategies that allow us to promote the sustainable and competitive development of our activities, thereby promoting progress and employment, especially in southern Chile.
In addition, the government of Chilean President Gabriel Borric recently revealed plans to revise salmon farming laws and has launched broader reforms to fishing laws.
Chile’s Deputy Fisheries Minister Julio Salas said the government had had “difficult conversations” with the fisheries sector and planned to submit a bill to Congress in March or April 2023 to change the law, but did not provide Details about the proposal. The new aquaculture bill will be introduced to Congress in the fourth quarter of 2022. He said the parliamentary debate process would follow. Chile’s salmon industry has struggled to foster growth. Salmon production in the first eight months of this year was 9.9% lower than during the same period in 2021, according to government statistics. Production in 2021 is also down from 2020 levels.
Undersecretary for Fisheries and Aquaculture Benjamin Eyzaguirre said that to restore growth, farmers working groups could explore making the most of unused permits and implementing technical improvements to generate revenue.
The United States has a market share of 45.7 percent of total Chilean salmon sales so far, and exports to this market rose 5.8 percent in volume and 14.3 percent year-on-year to 61,107 tons, worth $698 million.
Exports to Japan, which account for 11.8 percent of the country’s total salmon sales, also rose 29.5 percent and 43.9 percent respectively in the third quarter to 21,119 tons worth $181 million. It is the second largest destination market for Chilean salmon.
Exports to Brazil fell by 5.3% in volume and 0.7% in value, respectively, to 29,708 tons worth $187 million.
Exports to Russia rose by 101.3% year-on-year, breaking the downward trend caused by the Russian invasion of Ukraine since the beginning of the first quarter of 2022. But sales to Russia still account for only 3.6% of total (Chilean) salmon exports, down sharply from 5.6% in 2021 before the Russia-Ukraine crisis.
Chilean exports to China have gradually recovered, but have remained low since the outbreak (5.3% in 2019). Sales to the Chinese market increased by 260.1% and 294.9% in volume and value to 9,535 tons worth $73 million, or 3.2% of the total. With the optimization of China’s control over the epidemic, the export of Chilean salmon to China may continue to grow in the future and return to the level before the epidemic.
In conclusion, Atlantic salmon is Chile’s main exported aquaculture species, accounting for 85.6% of the total exports, or 141,057 tons, worth US$1.34 billion. During the period, sales of coho salmon and trout were 176.89 tons worth $132 million and 598.38 tons worth $63 million, respectively.

Chilean salmon

Post time: Nov-18-2022

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