Chilean salmon producing giant issues trading update

by
Editorial Staff

Coho inventories were reduced approximately 50% compared to March 31,
2024.

Chilean salmon producing giant Salmones Camanchaca has reported a significant increase in its Atlantic salmon harvest for the second quarter of 2024.

The company harvested 11,643 tons of Atlantic salmon, nearly doubling the 6,400 tons harvested in the same period last year.

The average weight of harvested fish increased from 4.4 kilos in Q1 2024 to 5.0 kilos in Q2, while the ex-cage cost decreased to US $4.99 per kg from $5.28 per kg in Q1.

Sales in Q2 2024 totaled approximately 11,000 tons of Atlantic salmon and 2,100 tons of coho.

The coho inventory was reduced by approximately 50% by the end of Q2 compared to March 31, 2024.

Salmones Camanchaca estimates a total harvest of between 46,000 and 48,000 tons of Atlantic salmon for 2024, up from 44,100 tonnes in 2023. For coho, the company projects a harvest of 4,000 to 5,000 tons, compared to 11,400 tons in 2023.

Salmones Camanchaca has 1,900 employees on average, 60% of whom work in its
secondary processing and value-added plant. Markets for Atlantic salmon are led
by the USA and Mexico.

The full Q2 2024 report will be released on August 13.

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