News Summary July 12, 2017
Today's Main Story: Chile's Salmon Output May Increase More than Expected, Help Shares
Headlining the news today is a focus on how Chile's farmed salmon production could increase more than expected this year, helping share prices of Chilean producers at a time when salmon from leading global producer Norway is limited, according to a trade association and analysts. As stricter regulations are implemented to tackle environmental problems that have decimated fish populations, local companies had forecast stable output in 2017 after a 20 percent decline a year earlier due to a deadly algae bloom. Production now looks likely to surpass expectations, said Felipe Sandoval, president of the Salmon Chile association, which represents producers.
Meanwhile, the Chilean salmon fillet market continued to trend lower yesterday. Urner Barry's Salmon Market Reporter Janice Schreiber writes that supplies range fully adequate to ample in the spot market coupled with a seasonally lackluster demand period. Downward pricing pressure is being felt not only from other origins of farmed salmon (i.e. Canada and Europe) but also from the growing supply of wild salmon; especially sockeyes. Additionally, market participants report that the volumes available out of Chile will continue to increase throughout the second half of the
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