Chile’s salmon exports will reach a record high this year – looking to exceed $5 billion

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Good prices and increased production to drive Chile’s salmon exports to record levels.

According to the salmon industry organization, SalmonChile, Chile has exported 850,000 tonnes of salmon at a value of $5 billion in 2018. The numbers have yet to be confirmed, according to Chilean newspaper La Tercera.

SalmonChile President Arturo Clement said the growth is expected to continue, primarily due to the growing demand for Chilean salmon in the US and China.

“We must keep a close eye on the Chinese market, which has grown brutally over the last two years and is a market with great potential,” said Clement.

In November, it became known that a Chinese conglomerate buys up the Chilean salmon farmer Australis for for $880 million. The deal has been given until April 2019 to settle. Earlier this year, Agrosuper acquired AquaChile.

“Agrosupers acquisition of AquaChile is a very important milestone. This shows that the industry is attractive to investors. If we add the acquisition of Australis, it will end a very good year for the industry,” said Clement, who predicts more consolidation in the future.