September 26, 2003
Chile Salmon Outlook Optimistic
Things are looking up for Chilean salmon farmers despite the recent sharp drop in the United States dollar.Executive president of SalmonChile, Javier Cox, said that present currency fluctuations will not affect activity in the industry, which will carry on as usual. The US dollar is currently trading at 661 pesos per dollar, one of the lowest values of the past 15 months.
Cox admitted that a lower exchange rate will produce a lowering of returns for the export sector, "but what is more important, more than the absolute value of the dollar, is the stability it has." Added to that is the relative stability of Chile's salmon industry
What is more important is the exchange rate in the medium and long term, and not short-term fluctuations.