Chinese owner of Australis is optimistic about the outlook for the Chilean salmon industry

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Chairman, Jie Tang, of Joyvio Agriculture Development, believes the worst of the pandemic is over. The best is now to come:

“The epidemic will eventually pass, and the domestic consumption upgrade trend will not change. This epidemic has tested the worst. We are fully prepared for this. In fact, our salmon products were sold during the outbreak in January this year. The situation is ideal, which strengthens our confidence,” said Tang Jie to Sina Finance.

The A-listed Chinese Company is the owner of the Chilean salmon farmer Australis Seafoods. Joyvio’s first-quarter results were affected, when the epidemic hit and took away the whole catering and restaurant segment. But now Jie Tang expresses confidence over the future in, especially salmon:

“There are many types of seafood, we choose salmon, which is characterized by its high barriers to entry, high concentration of production capacity, strict supervision, and good market acceptance. To enter the salmon supplier market, the initial investment requires tens of millions of dollars. The government needs to issue harvesting licenses for regular spot checks, which are generally used as a bulk meat consumer product in Europe, America and Japan. These factors together determine that salmon is a safe, reliable, high-protein, low-fat product,” said Tang Jie.

Read also: Chinese group to launch take over bid for 100% of Australis Seafoods

The 2019 annual report shows that Joyvio has increased its infrastructure construction in the 12th district of Chile, and the salmon harvest has increased by more than 20 per cent compared with last year, reaching a record high.

Read also: “How much capital can you afford to tie up in frozen inventory, Chile?”