June 18, 2014

Value of Chile's fishmeal exports plunged in Q1 2014

The value of exported Chilean fishmeal fell to US$70.1 million in the first quarter of 2014, 36.1% lower than a year earlier.

Out of the total exported fishmeal, 74.2% was prime quality, 21.6% was super prime and 3.6% was standard. Major destinations for Chile's fishmeal were China, Spain, South Korea, Japan and Italy.

In the first quarter of 2014, exports of fishery and aquaculture products in Chile reached a value of US$1,595 million, an increase of 23.8% on-year, when US$1,317.1 million was obtained. However, the volume exported experienced a decline of 11.7%, from 316,060 tonnes between Q1 2013 to 324,000 tonnes this year, the Undersecretariat of Fisheries and Aquaculture (SUBPESCA) reported.

Chilean products were destined for 84 countries, of which the nine main ones accounted for 80.8% of total exports. Among those highlighted destinations are the United States, Japan, Brazil, China and Russia.