April 19, 2007

Chile's January-February fish product exports jump 41.4 percent

Chile's January-February fishing exports, excluding salmon and trout, surged 41.4 percent on the year to 157,050 tonnes in volume terms, and 46.5 percent in value terms to US$238.6 million, the Sonapesca fisheries trade group said Wednesday (Apr 18).

The sharp rise in the value of these exports was due to a 46 percent increase in fishmeal prices to US$1,123 a tonne, from an average of US$768 a tonne in January-February 2006, Sonapesca said in a statement.

Fishmeal and oil exports, which account for 58 percent of sector exports, jumped 46 percent in terms of volume to 91,073 tonnes, doubled in terms of value to US$99.3 million, when compared with the first two months of 2006.

Additionally, canned Jack mackerel exports increased 43 percent in value terms to US$30.4 million, and 29 percent in volume terms to 13,115 tonnes. The jump was due to 17 percent hike in canned Jack mackerel prices to US$1,398 a tonne, Sonapesca said.

According to the trade group, the majority of Jack mackerel exports go to Africa and Russia.

The strong growth seen in the first two months of the year likely will slow down in coming months, as the raw material available is expected to hold steady, Sonapesca said, citing catch quotas set by the Fisheries Undersecretariat.

Chile is one of the world's largest fishmeal producers and exporters.