October 12, 2012

Chile's Fisheries Agency (SERNAPESCA) has officially cleared requirements for live lobster imports from US.

Given the current exchange rate between the US dollar and the strong Chilean peso, which continues to favour US sales, and the US-Chile Free trade Agreement which gives the US zero tariff on seafood, this market access opening offers an opportunity for US lobster sales in Chile.

Meanwhile, US exporter can prepare the shipment. Each shipment must be accompanied by a sanitary certificate from the National Oceanic and Atmospheric Administration (NOAA) with necessary declaration.

The clawless lobster of the Juan Fernandez Islands, located off Chile's southern coast, is the primary lobster species consumed in Chile. In 2011, Chile exported US$3,926,471 of this crustacean.

About 10% of Chilean lobsters are consumed domestically, primarily in restaurants. Chileans do not have a tradition of cooking lobsters at home. Prices for a half lobster (about a pound) fall between US$30-US$45, while a whole, two-pound lobster can retail for up to US$80 at a seafood restaurant.

The local lobster fishing season runs from October to May (spring, summer and fall in the southern hemisphere). This time-frame covers the period of greatest demand when Chileans celebrate Christmas and New Years by consuming lobsters at beaches.

Despite the global economic recession, Chile has demonstrated its ability to maintain a growth perspective through its solid fundamentals, in particular, its fiscal solvency. Based on market growth rate and the overall US competitive position in the market, US lobster exporters could find a reliable and lucrative market in Chile.