Chile senate to vote on key salmon law

An important bill that will regulate the future of the Chilean salmon farming industry will be voted on in the Senate.

The reform of the current Fisheries law introduces changes mainly in aquaculture and supposes measures for the financial bailout of salmon farming centres.

The norm sets forth the non-renovation of aquaculture concessions, holds that they take place in the same farming concession, and in a period of three productive cycles. In addition, it puts forth the possibility that the aquaculture concession be restored.

It also establishes a system of mortgages for aquaculture concessions, which facilitates the issuing of credits on part of the banks, and its term of 25 years.

If the bill is upheld in the Senate, it will be derived to the House of Representatives to a third proceeding.